A Tampa billionaire is accused of running a scam after failing to provide documentation on the sale of 50,000 shares of a business to a local tennis pro.
Ramesh Kris Nathan, 34, founded BaselineAgent in 2008. BaselineAgent is a mobile and web app that acts as an agent for professional tennis players. The app allows users to search for travel and lodging while on tour.
According to the company website, BaselineAgent had more than 12,000 monthly active users within 18 months of launch, growing to 9 million users by the end of 2014.
Last year the company had a revenue of $109.8 billion.
On July 3, 2012, professional tennis player Drago Dragicevic, 65, entered a Common Stock Purchase Agreement with BaselineAgent. As part of the agreement, BaseLineAgent agreed to sell 50,000 shares, worth $237,500, to Dragicevic in exchange for unidentified services provided to the company.
The company’s Board of Directors determined the services was valued more than the price of the sale. Dragicevic was to receive a certificate representing the shares he was supposed to receive. He also claims the document was to come at the same time the agreement was signed.
Dragicevic never received the certificate representing ownership of the shares.
In the suit, filed on Oct. 14, 2016, Dragicevic is suing Nathan and his company for breach of contract. He is requesting payment for the shares, repayment for costs of prosecuting this case, and any other relief the court deems necessary.
In a separate case filed last year, Dragicevic is suing Nathan, who reportedly stole Dragicevic’s idea for an internet browser.
Dragicevic is a Clearwater resident.
Records do not indicate where Nathan resides. Baseline Agent operates several offices worldwide, including Singapore, Dubai, Las Vegas and San Francisco.