MARY J BLIGE AND STEVE STOUTE SUED OVER $250K BANK LOAN FOR CHARITABLE ORGANISATION

TMZ reports that singer Mary J. Blige and entertainment mogul Steve Stoute’s charitable organisation Foundation for the Advancement of Women Now is being sued by TD Bank over a $250.000 loan.

They took out the loan back in June 2011 and according to the suit the foundation agreed to pay back the money by December 2011, but so far they have only managed to pay back $368.33

Blige and Stoute are also being sued by musicians who claim they still haven’t been paid for performing at a fundraising gala which took place in 2011.

A representative for Blige told the website,

“The Mary J. Blige and Steve Stoute Foundation For The Advancement Of Women Now, Inc. (FFAWN) is presently transitioning its management and headquarters.”

…..

Steve Stoute is a VERY wealthy man and Mary has done alright for herself financially so why did they need to borrow money (a relatively small sum for Steve) from the bank in the first place?

This is another charitable organisation set up by celebrities who just don’t have a bloody clue when it comes to running these types of organisations and end up leaving it in the hands of dubious individuals.

I guarantee that the Foundation For The Advancement Of Women Now, Inc will soon be no more.

Categories: Music News

Tagged as: , , , ,

2 replies »

  1. And to think MJB threw down all that money and paid for her $6-7million dollar ATL mansion in one go. Something I commended her for as so many celebs end up defaulting on payments….but this….oh the shame!

  2. yeah makes no sense to me. And your right it will be no more. I never understand why the celebs don’t be on top of things. I mean the media is always looking for a story to bring you down…SMH

Follow MAD NEWS UK on WordPress.com

Enter your email address to follow this blog and receive notifications of new posts by email.

Follow me on Twitter

Instagram

Instagram

Archives

May 2012
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
28293031  
%d bloggers like this: