Cash Advance Firm Files Lawsuit Against Mike Lindell Over Unpaid $1.5 Million Loan - PRESS AI WORLD
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Cash Advance Firm Files Lawsuit Against Mike Lindell Over Unpaid $1.5 Million Loan

share-iconTuesday, December 31 comment-icon3 weeks ago 7 views
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independentINDEPENDENT
Cash Advance Firm Files Lawsuit Against Mike Lindell Over Unpaid $1.5 Million Loan

Credited from: INDEPENDENT

  • A **merchant cash advance firm**, Cobalt Funding Solutions, is suing **Mike Lindell** for failing to pay back a **$1.5 million loan**.
  • Lindell has accused Cobalt of charging an illegal **annual percentage rate** of **409%**, calling the industry a **“sham.”**
  • The lawsuit states that despite stopping payments, Lindell has continued to generate millions from MyPillow sales since October 18, 2024.
  • Cobalt claims Lindell has **refused** to resume payments after initially making substantial deposits totaling **$814,064.76**.
  • This lawsuit follows a pattern, as Lindell has faced similar financial disputes with other companies, indicating ongoing **financial troubles**.

For more details, visit the original article here.

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Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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