Bow Wow Sued Over Repossessed Lamborghini
. SunTrust Bank filed the lawsuit against Bow Wow -- real name Shad Moss -- claiming he took out a business loan worth $300,165 and agreed to make 84 monthly payments of $4,730. According to bank records filed with the lawsuit, Bow Wow fell behind on payments last year ... with a remaining balance of roughly $160,000. The docs show the bank repossessed the rapper's Lamborghini Murcielago to settle the debt -- and managed to get $161,000 for the exotic car. You'd think that would be the end of it -- but the bank tacked on over $25,000 for "repossession expenses." According to the lawsuit, Bow Wow still owes the bank $21,371 -- and the bank's suing for every last penny. TMZ broke the story ... Bow Wow is also being chased down by a collection agency over a $283,000 judgment against him, stemming from a Ferrari he stopped making payments on. Sources close to Bow Wow tell us, the rapper attributes all his money issues to his ex-management team. We're told he has since cleaned house and is now working to fix his financial mess. more on this story TMZ submitted this story.
...end |
On the Blue: New Horizons Cruise Day 1: Marbin Gets the Fun Started
Hot In The City: Prog Band Tu-Ner Coming to Phoenix
Sites and Sounds: Daytona Beach Ready to Rumble with Welcome to Rockville
Watch The Beach Boys Official Documentary Trailer
Ringo & His All Starr Band Announce Fall Tour
The Night Flight Orchestra Inks Deal With Napalm Records
Little Feat 'Can't Be Satisfied' With New Video
The Melvins Stream 'The Making of Tarantula Heart' Mini-Documentary
Watch Babylon A.D.'s 'Wrecking Machine' Video
The Exies Reveal Never Before Seen Footage With 'For What It's Worth' Video
The Allman Brothers Band Legend Dickey Betts Dead At 80