TD Bank Suing Mary J. Blige's Foundation Over Loan
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According to claims made by TD Bank, they allowed Mary J. Blige's Foundation for the Advancement of Women to borrow $250,000. But the iconic singer and her group only paid back a mere $400.
Now the bank is suing the foundation for nonpayment of the loan which was taken out in June of 2011.
Based on documents filed in a May 2012 lawsuit, the loan was supposed to be paid back in December of 2011. But when that time arrived, only $386.33 was put forward.
TD Bank further contends that on two separate occasions in February they requested the loan to be paid back in full. Yet, they never received any response from the foundation.
A representative for Mary J. Blige made a statement about the foundation.
"The Mary J. Blige and Steve Stoute Foundation For The Advancement Of Women Now, Inc. is presently transitioning its management and headquarters. We remain committed to our mandate of helping women gain the confidence and skills necessary to reach their full individual potential."
Source: tmz.com
