Chris Brown is facing some legal trouble in the form of a lawsuit (actually, two lawsuits, one filed in Georgia and the other in California) from City National Bank over a loan he and a group of other investors, including fellow artist The-Dream, reportedly took out to purchase two Popeyes chicken restaurants in Georgia.
The lawsuit, acquired by The Blast, says that the group borrowed the money in 2018 and now owe the bank over $2.1 million: “As of February 17, 2023, Borrower and Guarantors owe $2,140,901.74 in unpaid principal and interest,” the lawsuit states. The suit also says that Brown is responsible for repayment as a “personal guarantor” for the loan.
City National was actually already successful in getting a judgment against Brown in Georgia, with a judge ruling in the bank’s favor, but now they’re filing suit in Los Angeles in an attempt to actually collect the money. To that end, they’re saying Brown owes about $1.3 million of the sum in the more recent lawsuit.
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The Blast reports that it’s “unclear” whether The-Dream is also being sued for his part in the investment group, and that it’s possible that if he maintains residence in another state that City National may be filing suit there as they have in California against Brown. Another matter that is reportedly unclear is whether the money Brown and co. borrowed from City National actually went towards buying the two Popeyes locations in question, as well as whether or not the restaurants have been successful. But either way, the bank wants their money.
Brown has plenty of experience in the restaurant business. He reportedly owns 14 Burger King franchises in his native Virginia, and with a net worth of $50 million it’s not clear why this particular bank loan was allowed to be neglected to the point of a lawsuit being filed.
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