November 29, 2012 07:30 AM by Donna W. Martin
According to Reuters, Signature Bank filed a lawsuit against Mary J. Blige in the New York Supreme Court in Manhattan on Wednesday. The lawsuit alleges that Blige and her husband defaulted on a $2.2 million loan with the bank and they are seeking to recoup the original value of the loan plus interest in the amount of $58k.
Sources say the bank tried on numerous occasions to contact someone with Blige’s organization to clear up the matter, but they did not get a response and therefore, took the only recourse available to get the money back.
In addition to naming Blige and her husband, the lawsuit also names Blige’s production company, Mary Jane Productions, Inc. And while it isn’t clear why the R&B singer and her husband took out the loan in October of 2011, we do know that the default occurred in July of this year.
However, this isn’t the New York native’s first go-round with financial difficulties. Earlier this year, Blige’s charity, The Mary J. Blige and Steve Stoute Foundation for the Advancement of Women Now, Inc., was accused of misappropriation of funds and cheating scholarship recipients.
While Blige’s publicist and attorney have declined to comment regarding the current lawsuit with Signature Bank, Blige did speak out and acknowledge problems surrounding her charity in a June interview. “The lives of young women are at stake,” Blige said in response to allegations of mishandling of funds. “I feel what they feel. I don’t want them to suffer.” She added, “I promised them something and I’m gonna deliver. Period.”
Blige has sold in excess of 50 million albums worldwide, so where did all the money go? Why would the R&B superstar need a $2.2 million loan? And is someone within Blige’s organization embezzling funds? Post a comment and tell us what you think.
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