Chris Brown Faces Financial Strain as Unpaid Bank Loan Controversy Deepens
In a recent legal development, renowned R&B artist Chris Brown finds himself entangled in a financial dispute, facing the potential seizure of assets exceeding a million dollars. The predicament stems from Brown and his fellow investors, including producer The-Dream, defaulting on a 2018 loan from City National Bank (CNB) meant to fund the opening of two Popeyes Chicken franchises.
City National Bank initiated legal action against Brown and his associates in September 2023, alleging that as of February 17, 2023, the outstanding principal and interest on the loan amounted to $2,140,901.74. The lawsuit contended that Brown, as a personal guarantor, bore the responsibility for the unpaid sum. A court ruling in favor of CNB was obtained in Georgia in August 2023, prompting the bank to file a case in California to pursue the outstanding funds.
On February 27, a Los Angeles court confirmed a sister-state judgment filed by City National Bank, compelling Chris Brown to personally pay $1,314,367.40. The court has granted Brown a 30-day window to respond to this latest ruling. Failure to do so could empower City National Bank to collaborate with California authorities to recover the debt, potentially leading to the seizure of Brown’s assets, including properties and funds.
Representatives for Chris Brown have not yet responded to requests for comment on this matter.
This financial setback is not the only legal challenge currently facing the 34-year-old artist. In October 2023, Brown was sued by Abe Diaw, who alleges that the singer assaulted him with a bottle of Don Julio 1942 tequila at TAPE in London in February of the same year. The lawsuit describes a brutal altercation in which Brown allegedly delivered “crushing blows” to Diaw’s head, leaving him unconscious, and then continued to stomp on him for 30 seconds. Diaw, now seeking damages, claims to have suffered permanent damage and severe emotional distress.
Chris Brown’s legal troubles have been ongoing since 2009 when he physically assaulted then-girlfriend Rihanna, resulting in criminal charges and a subsequent guilty plea. More recently, in May 2023, reports surfaced of a physical altercation between Brown and Usher before their joint performance at the Lovers & Friends music festival in Las Vegas.
Despite these legal challenges, Chris Brown has announced the dates for his upcoming 11:11 Tour, spanning 26 locations throughout North America, featuring opening acts Ayra Starr and Muni Long.
#ChrisBrown Chris Brown Could Have Assets Seized over $2M Unpaid Bank Loan Used to Buy Popeyes Franchiseshttps://t.co/1VUZRWoTIK pic.twitter.com/VNQjXWSFQJ
— My Break News_EN (@MyBreakNews_en) March 6, 2024