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Former Ravens LB Ray Lewis Says Bank Stole $5 Million From Him
Former Baltimore Ravens legend Ray Lewis had a dream of giving 52 families 52 homes with the help of a bank that was funding the operation. Not anymore according to TMZ.
Here are the details:
Lewis — along with several members of the L2 Family Foundation – has filed a lawsuit against American Bank … claiming AB had agreed to give L2 $5 million over 5 years to help fund Ray’s program.
FYI — the program was supposed to give 52 single moms the money they need toward the down payments of their new homes.
In exchange for the $5 mil, L2 says it agreed to give American Bank the right of first refusal on all of the mortgage loans that resulted from the program. Ray claims the bank got $4.5 mil in business from those deals.
Problem is … Ray and L2 claim the bank “frantically” shut down the branch they were working with just 9 months into the program without explanation.
L2 says it never got the $5 million it was promised — or any of the other benefits — and says the closure “deprived the foundation of its ability to continue operations.”
L2 Family Foundation and Ray Lewis are now suing the bank for $20 Million, claiming in part, that the bank ruined Ray’s reputation.