Palm Beach businesswoman Johnna Pomasan supports the so-called “King of Pants” fashion designer Alvin Valley defrauded her of $750,000 when she and her husband invested in his brand.

In the lawsuit filed earlier this year, Pomasan claims Valley convinced the couple to loan his company a total of $640,000 secured by convertible promissory notes.

But she claims in court papers that the investor couple learned that the company’s common stock was of limited value and that “there was no likelihood of a ‘qualified financing’ event as described in the convertible promissory notes.”

The suit also alleges Valley approached the Pomasans in the spring of 2023 with “an alleged business opportunity” related to his company, Alvin Valley Limited Inc.

“Alvin and AVL falsely represented that the Convertible Promissory Notes would be honored when, at any material time, Alvin and AVL did not intend to honor the Convertible Promissory Notes,” the lawsuit alleges.

In addition, the suit alleges that the fashion brand refused to repay the Pomazans “the principal amount and accrued interest, despite the expiration of the due date and multiple requests for payment.”

They say they tried to serve Valley with court papers 17 times, but claim that since April, he has “intentionally supported the affidavits,” Pomasan’s attorney told Page Six.

Pomasan went public with her battle earlier this month, announcing via social media that she had severed ties with the designer “after careful consideration”.

“Since 2023, we have worked tirelessly to support Mr. Valley with the goal of elevating his brand. However, despite our dedication and considerable efforts, it has become clear that Mr. Valley does not share our values ​​and principles,” she posted.

Pomasan reportedly received support from the Florida social set.

“I want to express my sincere thanks to everyone who has reached out over the past few weeks… Your encouragement has strengthened my belief in the power of integrity,” she wrote.

He also encourages supporters to contact his attorney, John Agnetti, to make statements for the judge in question.

Valley reposted her ad as part of a video set to Madonna’s “The Power of Good-Bye.”

“Sometimes it’s (sic) hard to say goodbye,” she captioned her post.

A source close to the designer confirmed to Page Six that he “hasn’t been officially handed the papers,” but insisted, “he’s not shirking in any way.”

The source added: “He travels a lot. Paris, Hamptons. Every time I come, he’s not home. He’s been in the Hamptons all summer. He could have served it there, but he didn’t.”

The insider also attributed the drama to “investor relations gone bad,” and there was some Palm Beach jealousy mixed in.

The source speculated that Pomasan is after her investment after Valley allowed another Palm Beach socialite, Kara Ross, to host his show at her home.

“(Pomasan) wanted that at home” and “became very jealous and competitive,” they said.

Pomesan, however, criticized the speculation as a “weak attempt at both diversion and diversion”.

She added that the allegation “doesn’t even remotely address the real issue of him taking money from me and defaulting on his obligations. Trying to name Kara Ross is both pathetic and sad.”

A spokesperson for Valley told us, “because this is an active legal case, Alvin has been instructed not to comment. He hopes that everything will be resolved in the courts in the coming weeks.”

Meanwhile, “It’s still business as usual. The king of trousers just launched his new denim line – which is doing phenomenally,” concluded the representative.