Chris Bown is facing a serious legal drama over his failed business deal to acquire a Popeye’s chicken franchise.
According to legal documents, City National Bank is attempting to collect on a loan given to the popular R&B singer and others to buy two fast-food locations. The lawsuit is technically out of the state of Georgia, but the bank filed a case in Los Angeles Courts, knowing that Breezy lives in the area.
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 The-Dream are part of an investment group that bought into the company.
City National Bank claims they forked over the cash 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.
As for Chris’ involvement, the bank claims “Mr. Brown is a personal guarantor” of the loan and is now on the hook for the money.
A judgment was already entered in a Georgia court in favor of the bank. In other words, the LA case is simply the bank trying to collect the money they already won in the lawsuit. Specifically, in Brown’s case, the bank says he owes “$1,314,367.40.”
It’s not clear what the bank is doing to pursue The-Dream’s share of the claim.