Chris Bown is facing a pretty serious legal drama, over his failed business deal to acquire a Popeye’s chicken franchise, Media Take Out has confirmed.
According to legal documents – first published by The Blast – City National Bank is suing Chris over a loan given to the singer and others to buy two fast-food locations.
In the lawsuit, the bank claims it gave Brown a $2 million loan and several others, including R&B singer The Dream. It claims the “proceeds” were to “invest in two Popeyes restaurants.”
Chris Brown and Dream are part of an investment group that bought into the company.
According to the bank, they gave Chris and his crew the money back in 2018 and attempted to collect it a few years later. “As of February 17, 2023, Borrower and Guarantors owe $2,140,901.74 in unpaid principal and interest,” the bank states.
Chris messed up – an a few ways.First and foremost, the bank claims “Mr. Brown is a personal guarantor ” of the loan and is now on the hook for the money.
This isn’t Chris Brown’s first venture into the fast-food chain business. The singer owns fourteen Burger King Restaurants in Virginia, the state where Chris was born and raised.
But don’t feel too badly for Chris. Media Take Out did a quick google search and his net worth is reportedly between $50 million and $150 million, depending on the source.
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