Mike Lindell Sues Cash Advance Company For Usury

Law & Crime reports:

MyPillow CEO Mike Lindell is putting another lender on notice that the terms of a recent loan to his bedding company are “usurious, unconscionable, and thus unenforceable.”

Last week, in Carver County District Court, the pro-Donald Trump election denier sued named and unnamed defendants over a triple-digit interest rate on a $1.559 million loan taken out in September.

Daily payments on the balance are in excess of $45,000 per day, the lawsuit says. The total amount to be repaid is over $2.261 million. In this instance, Lindell and MyPillow are suing Cobalt Funding Solutions, a New York City-based cash advance company.

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‘An illegal, usurious loan’: MyPillow CEO Mike Lindell files new RICO lawsuit against another lending company over ‘sham’ $1.5 million loan with 409% interest rate https://t.co/T1NEs6GKNv

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