(EXCLUSIVE) Ne-Yo Slaps Citibank With 2.4 Million Lawsuit



theJasmineBRAND.com exclusively reports, Ne-Yo (real name Shaffer Chimere Smith) is blasting Citibank for failing to inform him of numerous suspicious activity on his accounts over the years – which he says ended with him losing millions – and has filed suit against the bank for 2.4 million dollars over shady activity by their own employee and his ex-manager.

Citibank sued Ne-Yo last year claiming they loaned the singer a series of business loans in 2013 totaling 1.4 million dollars. The bank said that Ne-Yo informed them through his reps that he did not execute the loans. However, the bank says he declined to sign an affidavit stating that or file a police report. They claimed 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 said 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 explained they have only been paid $14,941.10 on the 1.4 MILLION dollars.

They filed suit him for the unpaid loans and want to seize the property/asserts he put up for collateral on the loan.

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Ne-Yo fired back at Citibank’s legal battle, explaining 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 said 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 blamed the bank for allowing Foster to sign the loan documents on his behalf without ever having his consent. The singer demanded the entire lawsuit be dismissed.

Then on January 5th, Ne-Yo filed a counter-suit against Citibank demanding 2.4 million dollars in damages for their actions.

The singer explains that Citibank employed a man named Michael Belton – who was a Senior Vice President and manager at the bank back in 2013.

He states that Belton was the manager for all accounts managed by his former manager Kevin Foster and his company V. Brown & Company. The singer says Belton is the one who approved all the illegal loans taken out under his name.



According to the docs, Belton met Foster 13 years ago and they were so close they went to the Super Bowl together and even shared a hotel room.

Ne-Yo takes issues with the bank manager having been seeking investors in Foster’s company OXYwater while still working at Citibank. Further, once he ceased working with the bank he began working with Foster’s firm.

He explains that the bank willfully and consistently ignored red flags and suspicious conduct by Belton. Ne-Yo says that no one reached out to him about suspicious activity on his account — including his former manager endorsing numerous checks for other people, failing to inform him certain accounts were being closed due to violations by Foster, having his accounts overdrawn and penalized for fees, not calling him about multiple accounts with a combined negative balance of $101k and allowing Foster to take out the 400k loan under his company’s name.

The singer accuses Citibank of failing to follow their own procedures to make sure fraud did not occur and their failure to regulate their employees caused him substantial harm and money.

Ne-Yo blames Citibank for not watching their manager closely and not informing him of the activity on his account that effected his money. He has filed suit demanding $2,467,853.88 in damages from the bank for their wrongful actions and failing to spot their manager doing allegedly shady activity.

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Authored by: Kellie Williams