Singer Chris Brown is currently entangled in a legal battle after being sued for allegedly failing to repay a $2 million loan obtained from City National Bank (CNB) to invest in two ‘Popeyes‘ chicken restaurant locations, per Hip Hop DX. 

The lawsuit, which originated in Georgia but was filed in Los Angeles due to Brown’s residency, reveals that CNB provided the loan to Brown and other parties, including singer-songwriter The Dream, to acquire ownership in the fast-food establishments.

Although Brown and The Dream are not personally involved in the day-to-day operations of the restaurants, they are part of an investment group associated with the purchase. CNB states that the loan was granted in 2018 and attempts to collect repayment were made in subsequent years. As of February 17, 2023, the outstanding principal and interest on the loan amount to $2,140,901.74, according to the bank.

The bank emphasizes that Brown is personally liable for the loan as a guarantor. Unfortunately for Brown, the bank has already secured a judgment in their favor in a Georgia court, making the Los Angeles case an effort to enforce the previously won lawsuit. Specifically, CNB claims that Brown is responsible for $1,314,367.40.

It is important to note that the success of the ‘Popeyes’ restaurants remains uncertain, but CNB is determined to recover its loan. It is worth mentioning that Chris Brown already owns fourteen Burger King restaurants in Virginia, his home state. With an estimated net worth ranging from $50 million to $150 million, Brown’s financial situation may not be severely impacted by this lawsuit.

The Dream, who is also involved in the investment, may face a similar situation, although it is unclear if the bank intends to pursue legal action against him. Should Brown decide not to settle the debt, he will likely face a protracted legal battle ahead.

#Clique, what are your thoughts?