Verdict Report – $1,272,379 Judgement
Type of Case : Breach of Commercial loan/investment contract
Case Name: Dirk Thomas v. Rick Rahim, CL 2021-16427
Plaintiff loaned defendants $525,000 to begin an Amazon reselling business. Defendant would buy products from other vendors like Sam’s club and resell the products on Amazon. Defendant Rick Rahim conducted business through BV Management LLC. In addition to repayments, the contractual arrangements gave Plaintiff a combined 3% interest in the company.
After making initial payments on the note, Defendants defaulted in 2021 and Plaintiff filed suit on December 1, 2021 for breach of contract. Plaintiff filed an amended complaint to allege unjust enrichment and restitution.
Verdict for Plaintiff:
After discovery, Plaintiff had a bench trial on October 4, 2022, in Fairfax Circuit Court. In addition to receiving an award of the loan amounts due, Plaintiff was awarded an equity share of the business totaling $600,000, along with attorney’s fees of $27,770.
During the pendency of the civil case Rahim’s company, BV Management LLC filed for bankruptcy in the Eastern District of Virginia. The Court stayed the case against BV Management, but Plaintiff was allowed to proceed against Defendant Rahim.
As the judgment order reflects, Mr. Rahim operates companies under several names including Tariqu Afzal Rahim and Tariq Rahim. Mr. Rahim has several judgment creditors seeking collections against him for various failed businesses.