A Greenburgh sumo organization that is wrestling with large debts has been sued for more than $1.5 million for allegedly defaulting on a finance deal.
Blackbridge Investment Group, of Midtown Manhattan, accused Noah Goldman and his International Sumo League of violating a personal guarantee and breach of contract, in a Nov. 10 complaint filed in Westchester Supreme Court.
The sumo league ceased making payments to Blackbridge, the complaint states, “intentionally impeding and preventing plaintiff from receiving the specified percentage of the company’s receivables.”
Goldman founded the league in 2008 and has staged many sumo competitions, including, according to its website, an event at Madison Square Garden attended by nearly 10,000 people. The organization is based at Goldman’s house in the Greenville section of Greenburgh and uses a Scarsdale postal address.
Blackbridge offers revenue purchase agreements in which a business is given a lump sum payment in exchange for a percentage of future revenues.
Goldman and Blackbridge struck three deals from January through May 2024. In the first agreement, for instance, Blackbridge says it paid International Sumo League $400,000 for the right to receive 4.71% of the sumo league’s weekly revenues until $540,000 was paid.
In all, International Sumo League received $763,047 in four months and had to pay back $2,013,250, according to the revenue purchase agreements. Eventually, the weekly tally totaled $48,577, based on nearly 17% of business revenues.
The deals also gave Blackbridge direct access to the sumo league’s bank account to withdraw funds.
The sumo league initially met its obligations, according to the complaint, but eventually cut off payments by blocking access to the bank account.
The sumo league allegedly repaid nearly $2.1 million but still owes $1,539,426.
During the same period that Blackbridge says it made payments to the sumo league, Goldman was allegedly making deals with CFG Merchant Solutions, of Manhattan, and E Finance Tree, of Stamford, Connecticut, according to lawsuits filed last year. CFG and E Finance allegedly advanced a total of $339,918 in separate deals in April 2024, in exchange for nearly 16% of future revenues.
In both cases, Goldman filed counterclaims accusing the finance companies of criminal usury and breach of contract. Both cases are pending.
Goldman has not yet filed a formal answer to Blackbridge’s allegations, and he did not reply to an email asking for his side of the story.