The Cash Money Records boss also alleges company executives ignored his ability to repay.
- October 18, 2018
AceShowbiz - Hip-hop mogul Bryan "Birdman" Williams has launched a lawsuit against bosses at a lending agency over a home loan.
The Cash Money Records boss purchased a luxury estate in Florida in 2012 for $14.5 million (£11 million), and took out a loan for $12 million (£9.1 million) against the property from officials at EMG Transfer Agent in 2015.
Williams was subsequently accused of failing to pay back the funds, and in January the 49 year old had to surrender all keys and security codes to a court-appointed monitor, who managed the property while the legal dispute rumbled on.
In June, he reportedly agreed to sell the mansion for $13.5 million (£10.3 million), but he is now suing bosses at EMG Transfer Agent, claiming the loan was "predatory" and "had toxic terms."
Williams also alleges company executives ignored his ability to repay.
He is suing for "the return of all money or property given as earnest money or down payment," the termination of the loan, the return of all finance charges and unspecified damages, according to The Blast.
