[EXCLUSIVE] Ne-Yo Denies Defrauding Bank Out of $1.4 Million, Wants Lawsuit Dismissed

The bank says that Ne-Yo has informed them through his reps that he did not execute the loans. However, the bank says he declined to sign a affidavit stating that or file a police report. They say that from their investigation it appears that the singer DID in fact benefit from the $1.4 million and his manager Kevin Foster did as well.

Citbank says in docs that the money went straight into Ne-Yo’s business checking account and that he would take out $25K cash multiple times along with wiring other large amounts to other accounts and even his accountant.

The bank explains they have only been paid $14,941.10 on the $1.4 MILLION dollars. They are suing him for the unpaid loans and they want to seize the property/asserts he put up for collateral on the loan.

This week (October 6th) Ne-Yo fired back at Citibank’s claims. He explains that he never benefited from the millions put into his account and he say he never signed any loan documents with the bank.

Further, he says that CitBank is barred from suing him because the losses they allegedly incurred were a direct and proximate result of his own conduct and/or negligence or that of its own employees — which is interesting due to the fact that the singer sued his ex-manager Kevin Foster accusing him of stealing over $8 million from him over the course of several years.

Ne-Yo is blaming the bank for allowing Foster to sign the loan documents on his behalf without ever getting his consent. The singer is demanding the entire lawsuit be dismissed and CitiBank be awarded nothing.

We’ve reached out to Ne-Yo’s rep — so far no comment.

See the EXCLUSIVE Court Documents

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