Login



Social Networking

Social Media Links

TwitterFacebookFeed

Sign up for TLA newsletter

Fill out your e-mail address
to receive our newsletter!
E-mail :

TLA's FEATURED ARTIST!



Visit Our Friends

Wolfson Public Relations
HelloArticle.com
Black Coffee Channel
Black Electorate
Thugz-Network
BlackRefer.com



News Hip Hop Artist Mack 10 Sued
Hip Hop Artist Mack 10 Sued PDF Print E-mail
Written by Staff   
Sunday, 22 January 2012 14:01

 

West Coast hip hop rap artist and actor Mack 10, aka Dedrick Rolison, has been ordered to pay a creditor a debt that includes illegal interest. TMZ reports that Mack borrowed $35,000 from Tadayuki Ito on April 24, 2010 and was required to pay 100% interest, or $70,000 total, by August 31st of the same year.

The interest level violates California law against excessive debt on loans. Rap artist Mack 10 borrowed an additional $65,000 from Ito four days later with the same interest agreement, bringing his total debt to $200,000, half of which was interest. Under California law, a creditor who charges interest that violates the usury law ends up getting no interest from the debtor; in this case Mack 10.

But that didn't turn out to be the case, as Ito sued Mack 10, who failed to show up for court. The judge then entered a default judgment of $229,668.86 which includes the debt, interest and legal fees. Now Mack 10 must pay the default judgment.

Last Updated on Sunday, 22 January 2012 23:59
 
News Hip Hop Artist Mack 10 Sued

"This site is dedicated to the legacy of Tupac Shakur and all the other souljahs who dare to struggle; alive & dead"

The layout, text and images on this website are protected by (c) Copyright and may not be used or reproduced without written consent of Admin@ThugLifeArmy.com.
No copyright is implied or expressed towards any of the pictures on the site except site images owned by ThugLifeArmy.com . ‘Hot linking’ of our content (images, text, audio and video) is strictly prohibited by law.
If our news articles are used we expect source credit and a live return link to be given to ThugLifeArmy.com.
The photograph of Tupac used on the home page is owned and copyrighted by Gobi. Photo is used with permission from Gobi to ThugLifeArmy.com. Many more of Gobi's photographs of Tupac can be seen in Gobi's book 'Thru My Eyes'.
Picture graphics and design are by illcomics@cox.net and webmaster@thuglifearmy.com (Selphie)

Thug Life Army is a division of Star Sound Music Group®
7336 Santa Monica Boulevard, Suite 800 Hollywood, California 90046
E-mail: Admin@ThugLifeArmy.com
Privacy Policy | Contact Us | About Us | Sourcing Policy | DMCA | RSS Feed feed-image
(c) Copyright 2002-2014 www.thugelifearmy.com. All Rights Reserved