Home Page by K2 Home Page by JSN PageBuilder
Share this post
FaceBook  Twitter     

User Rating: 5 / 5

Star ActiveStar ActiveStar ActiveStar ActiveStar Active


(© 2017 Journal GlobaLinks)



CHICAGO (JGL) — Enough of being a silent partner!


Ms. Amy L. Cheboub of Gurnee, Illinois was forced to shed her anonymity when she sued
 a suburban Chicago, Illinois-based Filipino American concert producer, Angela C. Arevalo-Eads, before the Circuit Court of Lake County in Chicago for a ten-count breach of contract amounting to $40,000.


Ms. Arevalo-Eads, of 39267 North Queensbury Lane, Beach Park, Illinois and 
owner of Diamonds Production, was accused by Cheboub of defrauding her into investing $40,000 to produce a concert headlining Asia's Songbird Regine Velasquez last year.


Ms. Cheboub said she and Ms. Arevalo-Eads agreed that each of them would deposit $40,000 in their partnership joint bank account but she was the only one who deposited the $40,000.


Ms. Cheboub, also a Filipino American, said in her complaint filed by her Chicago lawyer, Peter Strand, that in her agreement with Ms. Arevalo-Eads, she was to co-finance the “concert up to $40,000 only.” She would share “expense cost” to the Velasquez concert equally up to the amount of $80,000. 


expenses above the $80,000 will be covered only by Diamonds Productions.

Net proceeds will be
 shared equally.


Ms. Cheboub said that in the event of loss, any investments she made, would be “less her half of the loss up to a maximum of $10,000 and $30,000 will be returned to her out of her invested amount.”


According to Ms. Cheboub’s complaint, it was on or about Dec. 28, 2015 when Angela approached her, “offering her half of the profits of a music concert” if Amy Cheboub would provide funds for music concert starring Regine Velasquez that would take place on May 13, 2016 at Copernicus Center at 5216 West Lawrence in the north side of Chicago.



COPY OF THE contract between Angela C. Arevalo-Eads and Amy L. Cheboub. (JGL)

On Jan. 5, 2016, Ms. Cheboub accepted Arevalo-Ead’s offer and agreed “to work in the capacity as a co-producer/silent partner” and 
“co-finance” the concert up to $40,000 only.”




On that same day, they agreed that they would open a joint bank account
and each would deposit $40,000 totaling $80,000 “only to be used
 for production of the concert.”


On. Jan. 7, 2016, Ms. Cheboub deposited $40,000 into the joint bank account under the name of Diamonds Production LLC at Chase Bank. Arevalo-Eads never
 deposited a single cent into the joint account.


But the complaint did not say why Ms. Cheboub did not back out from their deal when Arevalo-Eads failed to deposit her share of the $40,000.



PHILIPPINES’ ASIA'S Songbird Regine Velasquez (right) is shown during the concert on May 13, 2016 at Copernicus Center produced by Angela C. Arevalo-Eads’ Diamonds Production. (RPlusMPhoto) 

Afterwards, Ms. Arevalo-Eads invited Ms. Cheboub to join her in her trip
 to the Philippines to introduce her to Ms. Regine Velasquez. Ms. Cheboub agreed to join the trip at her own expense while Arevalo-Eads got her traveling expenses from their 
“joint account.” 


On Jan. 13, 2016, Arevalo-Eads withdrew from the joint account the amount of $3,000 and withdrew $20,000 more on Jan. 14, 2016. On Jan. 19, 2016, Arevalo-Eads withdrew again $281.19 and $2,515.99.


Also on Jan. 19, 2016, they flew together from Manila to Cebu to secure the talent of Regine Velasquez for their concert. But Arevalo-Eads did not introduce Amy 
Cheboub to Regine Velasquez nor to Velasquez’ representative. Arevalo-Eads merely informed Amy Cheboub that she already paid Regine Velasquez
 with money from their joint account.


On Jan. 21, 2016, Arevalo-Eads withdrew the remaining balance of
 $14,202.82 from their joint account, leaving a zero balance.




From Jan. 21, 2016 up to May 12, 2016, Arevalo-Eads did not communicate with Amy Cheboub regarding the planning and organization of the event, according to the complaint.


On May 12, 2016, Amy Cheboub learned that Regine Velasquez did not receive the full payment, contrary to Arevalo-Eads' claim.


On May 13, 2016, Arevalo-Eads agreed to produce the books and other financial records of the concert only if Amy Cheboub would fork
 out another $6,000 to pay off Regine Velasquez’ remaining balance.


On May 13, 2016, the concert proceeded as scheduled with performance by Regine
 Velasquez, Jaya, Gene Flores, SamaSama Project, Pure Voice Divas, 
Jovie Calma & Chaz at the Copernicus Center.


But despite the promise of Arevalo-Eads to provide records or
 documents to Rachel Naval-Cruz to perform an accounting, Arevalo-Eads never turned over any financial records to Rachel Naval-Cruz.


Angela C. Arevalo-Eads takes a hard look at the $8,000 check (inset) about to be cut by Jimmy Alban, treasurer of the Filipino American Council of Greater Chicago (FACC) on Feb. 28, 2014 when they went to the Metrobank in Niles, Illinois to withdraw the money and gave the $8,000 cash over to Arevalo-Eads. Arevalo-Eads was accompanied by Rose Tibayan, Candy Emnas and Dr. Rufino Crisostomo, FACC Acting President. The $8,000 was part of the $10,000 that was supposed to be given away to victims of super Typhoon Yolanda (Haiyan) that was yet to be accounted for by Arevalo-Eads. (JGL Photo courtesy of Ms. Rose Tibayan, Used with permission)

Amy Cheboub charged Arevalo-Eads and Diamonds Production with 
breach of contract, unjust enrichment, common law fraud, deceptive 
acts, breach of fiduciary duty and conversion.


It was not known if Arevalo-Eads withheld at least 30% of her tax payment for 
Regine Velasquez or if Velasquez held a “P-3” or entertainment visa or Green Card to perform at Copernicus.


Under the tax treaty between the Philippines and the United States, an athlete like Manny Pacquiao or a singer like Regine Velasquez, their promoter, like Bob Arum, or a producer like Arevalo-Eads needs to deduct almost 39% withholding tax that should be remitted to U.S. Internal Revenue Service after two weeks of the fight or concert or until before the end of the year if they make at least “$100 a day or such income exceeds in the aggregate 3,000 United States dollars or its equivalent in Philippine pesos during the taxable year.”


A Filipino athlete or performer also needs a “P-3 visa” to perform in the U.S., not a “B-1/B-2” (business/tourist) visas, which do not allow the holders of such visas to work or perform in the U.S.


Arevalo-Eads was the same person who took the $8,000 cash 
from Jimmy Alban, treasurer of the Filipino American Council of Greater Chicago on Feb. 28, 2014 as part of the $10,000 that was supposed to be given away to the victims of super Typhoon
Yolanda (Haiyan) that was yet to be accounted for. Please see story: FRAUD PROBE OPENED ON “YOLANDA” DONATIONS; CASH DONATION SPENT TO WATCH PACQUIAO FIGHT? 

When reached for comment, Arevalo-Eads promised to respond but she never did. (This email address is being protected from spambots. You need JavaScript enabled to view it.


Your cart is empty.

Go to top