RnB superstar, Chris Brown is being sued over a reported loan of $2 million allegedly taken from a bank to purchase two ‘Popeyes’ chicken restaurants.
According to legal documents obtained by The Blast, City National Bank is attempting to collect on a loan given to the singer and others to buy two fast-food locations.
The lawsuit is technically out of the state of Georgia, but the bank filed a case in Los Angeles Courts, knowing that the singer lives in the area.
In the filing, the bank claims it gave Brown a $2 million loan and several others, including rapper The Dream. It claims the “proceeds” were to “invest in two Popeyes restaurants.”
This is because the two appear to be part of an investment group that bought into the company and took the loan from CNB in 2018.
The bank says “As of February 17, 2023, Borrower and Guarantors owe $2,140,901.74 in unpaid principal and interest.”
As for Chris’ involvement, the bank claims “Mr. Brown is a personal guarantor ” of the loan and is now on the hook for the money.
Unfortunately, Brown will have an uphill battle because a judgment was already entered in a Georgia court in favor of the bank. Which ruled that he owes “$1,314,367.40.”
It should be noted that it’s unclear whether the alleged restaurants are successful, but the bank wants to collect on their loan.
