August 5, 2014
: MediaTakeOut.com just learned some SHOCKING NEWS. R&B singer Ne-Yo is being accused of fraud & screwing a bank out of 1.4 million ….. and now he has been slapped with a federal lawsuit by CitiBank
Citibank explains that they loaned Ne-Yo a series of business loans in 2013 totaling 1.4 million dollars.
The bank says that Ne-Yo has informed them through his reps that he did not execute the loans … however, the bank says he declined to sign a affidavit stating that or file a police report. They say that from their investigation it appears that the singer DID in fact benefit from the 1.4 million and his manager Kevin Foster did as well.
Citbank says in docs that the money went straight into Ne-Yo’s business checking account … and that he would take out 25k cash multiple times along with wiring other large amounts to other accounts and even his accountant
The bank explains they have only been paid $14,941.10 on the 1.4 MILLION dollars
They are suing him for the unpaid loans + they want to seize the property/assets he put up for collateral on the loan
This is a MediaTakeOut.com EXCLUSIVE report. Failure to credit us is PLAGIARISM!!