[EXCLUSIVE] Timbaland Sued Over Refusing to Pay On $500K Loan

August 28, 2014 by in Latest News with 1 Comment

The company claims that back in February 2012, Timbaland and Garcia signed a promissory note with them for $500K. Per the agreement they were to make monthly payments of $7,500 a month.

DJHM claims that on February 5, 2013, the entire $500K was to have been repaid but when it wasn’t they demanded the total remaining due which was $375K. They claim Timbaland and Garcia refuse to pay up.

Timbaland

The company filed suit in a Miami court asking that Timbaland and Garcia be ordered to pay the amount due with interest, plus compensatory damages and their lawyer bills.

Garcia responded to the suit claiming he continues to make payments on the loan and DJHM has been accepting them and he and Timbaland even modified the original agreement with the company to change the due date on the loan.

Garcia also counter sued them for damages claiming DJHM is apart of a huge ponzi scheme and he lost 300k in a separate investment he made with them Timbaland has yet to respond to the suit.

Read the EXCLUSIVE Court Documents

Follow me: @theJasmineBRAND on Twitter | theJasmineBRAND on Facebook | theJasmineBRAND on Instagram

1 2
Tags: , , , , ,
Authored by: Kellie Williams
http://thejasminebrand.com

Related Posts
Media Personalities Peter Rosenberg & Ebro Darden Trade Shots In Heated Investment Debate Media Personalities Peter Rosenberg & Ebro Darden Trade Shots In Heated Investment Debate
Custom Grillz Designer Claims He Was Escorted Out Of Jay-Z’s Yankee Stadium Show Despite Spending $3K On Front Row Seats Custom Grillz Designer Claims He Was Escorted Out Of Jay-Z’s Yankee Stadium Show Despite Spending $3K On Front Row Seats
Actress Meagan Good Pregnancy Rumors Shut Down After Viral Baby Bump Photo Exposed As AI Actress Meagan Good Pregnancy Rumors Shut Down After Viral Baby Bump Photo Exposed As AI
D.C.’s Rat Birth Control Program Appears To Be Working As Rodent Population Drops D.C.’s Rat Birth Control Program Appears To Be Working As Rodent Population Drops
Concerned Father Shares Footage Of Son Being Followed By An Officer & Then Handcuffed For Reportedly Looking Suspicious While Wearing Hooded Jacket: This ‘Hurts My Heart’ Concerned Father Shares Footage Of Son Being Followed By An Officer & Then Handcuffed For Reportedly Looking Suspicious While Wearing Hooded Jacket: This ‘Hurts My Heart’
YIKES! Indiana Man Arrested After Allegedly Cutting Off His Penis & Setting It On Fire, Causing Garage To Go Up In Flames YIKES! Indiana Man Arrested After Allegedly Cutting Off His Penis & Setting It On Fire, Causing Garage To Go Up In Flames
Savannah James Defends Husband LeBron, Says Critics Have “Made Careers” Out Of Talking About Savannah James Defends Husband LeBron, Says Critics Have “Made Careers” Out Of Talking About
[UPDATE] No Evidence Of Crime Found In Nolan Wells’ De@th So Far, Sheriff Says [UPDATE] No Evidence Of Crime Found In Nolan Wells’ De@th So Far, Sheriff Says
There is 1 comment for this article
  1. mont blanc pen at 1:08 pm

    David, great article. On beginning the link I thought to help myself, as I usually do, this can be a pointless post. However I’ve got to go along with you actually regarding all these frequently neglected on page aspects. I realize these botched at all times!
    mont blanc pen http://derbyvt.org/montblanc-pens/

    Reply to this message

Leave a Reply

Your email address will not be published. Required fields are marked *