A judge has ordered Mack 10 to pay back two loans with extremely high interest.
Mack 10 made two deals; the first was to pay back a $35,000 loan from Tadayuki on April 24, 2010 with $70,000 by August 31, 2010 – 100% interest over the course of three months. The second was to pay back $130,000 on September 30 on a $65,000 loan obtained from Ito on April 28, 2010.
According to TMZ, California law prevents excessive interest on loans. However, the judge entered a default judgment in favor of Ito in the amount of $229,668.86 because Mack 10 failed to show up for court.
The figure includes interest and attorney’s fees.
AD LOADING...
Mack 10 has been the subject of several lawsuits as of late, getting taken to court over unpaid studio time and for allegedly failing to pay producers for beats.
RELATED: Kendrick Lamar, Mack 10, E-40 & Young Buck Speak On Troy Davis
