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News Hip Hop Artist Mack 10 Sued
Hip Hop Artist Mack 10 Sued PDF Print E-mail
Written by Staff   
Sunday, 22 January 2012 14:01


West Coast hip hop rap artist and actor Mack 10, aka Dedrick Rolison, has been ordered to pay a creditor a debt that includes illegal interest. TMZ reports that Mack borrowed $35,000 from Tadayuki Ito on April 24, 2010 and was required to pay 100% interest, or $70,000 total, by August 31st of the same year.

The interest level violates California law against excessive debt on loans. Rap artist Mack 10 borrowed an additional $65,000 from Ito four days later with the same interest agreement, bringing his total debt to $200,000, half of which was interest. Under California law, a creditor who charges interest that violates the usury law ends up getting no interest from the debtor; in this case Mack 10.

But that didn't turn out to be the case, as Ito sued Mack 10, who failed to show up for court. The judge then entered a default judgment of $229,668.86 which includes the debt, interest and legal fees. Now Mack 10 must pay the default judgment.

Last Updated on Sunday, 22 January 2012 23:59
News Hip Hop Artist Mack 10 Sued

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