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

Related Posts Plugin for WordPress, Blogger...
Twitter Delicious Facebook Digg Stumbleupon Favorites More

Design by Free WordPress Themes | Bloggerized by Lasantha - Premium Blogger Themes | ewa network review