Friday, September 30, 2011

Bishop Eddie Long to Pay Out $2 Million on Defaulted Property Loan

We first reported on this in Oct. 2010 about the alleged Hoop N Fitness gym on Tara Boulevard in Jonesboro, Georgia to be purchased by Long and associates. This was just 2 weeks after the sexual misconduct lawsuits were released to the news. At that time, the courts gave Bishop Long 10 days to pay or be liable for a defaulted loan. Its pretty apparent now he did not meet the deadline.

Read new report from AJC News:

Bishop Eddie Long has reached a settlement in a lawsuit that claims he and partners in a real estate venture defaulted on a $2 million bank loan.

Long and two partners in West Indies Holding Co. LLC, a venture took out a $2 million loan from a Macon bank for a Jonesboro commercial property that includes Omni Hoops & Fitness gymnasium. The bank later failed.

Read full report at our sister site AT2W

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