Birdman is reportedly facing a $20 million judgement for an unpaid loan regarding his Miami mansion. According to The Blast, EMG Transfer Agent is back in court over the lawsuit they originally initiated back in 2017.
The company says Birdman failed to pay a $12 million loan. The Cash Money boss used his house as collateral, which led to him being kicked out and having the property seized due to the the money owed.
While the case is still going to trial, EMG wants to act fast and grant a judgement beforehand. The company is accusing Birdman of having lied in order to obtain these loans. EMG has said, “As of the close of business on September 13, 2019, Borrowers and Guarantor are indebted, jointly and severally, to Plaintiff at the sum of $20,544,656.49, plus attorney fees, costs, and default interest that continues to accrue.”
The judge has yet to rule on a decision as of today.
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