Lindell Files RICO Suit Against MyPillow’s Lenders

Law & Crime reports:

The high-dollar economic woes of Mike Lindell and his small-town Minnesota-based company MyPillow continue apace. So does the litigation. Last week, the pro-Donald Trump conspiracy theorist and his once-lucrative business sued several lending companies over the eye-popping repayment terms of a $600,000 merchant cash advance.

Under the terms of the agreement signed in September, Lindell and his company must pay back $16,800 each day.

Stylized as a racketeering (RICO) complaint, the lawsuit accuses various lenders of issuing a loan under the guise of a contract in which the lenders agreed to “purchase My Pillow’s future receivables at a discount” and in which “My Pillow agreed to repay the face value of its receipts through daily payments.”

Read the full article.

‘Unconscionable and thus unenforceable’: MyPillow CEO Mike Lindell files RICO lawsuit against lending companies to try and get out of allegedly ‘usurious’ $600K loan https://t.co/7IHl6AG6F9

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