Add Mary J Blige’s name to the long list of celebrities who blame their management for mismanaging their money. The aging R&B star is being sued by TD bank for a $250,000 loan that Mary and her foundation has neglected to pay back.
Blige’s Foundation for the Advancement of Women Now (FFAWN) took out the loan back in June 2011. So far the foundation has paid back a mere $368.33, less than seven percent of the total loan.
The bank filed the suit this month to recoup the $250,000, plus late fees and costs.
It sounds like Mary used the foundation to take out a personal loan to pay her rumored mounting debts, and now she can’t afford to pay the loan back. She needs a hit record.
Typically, Blige blames her management for not paying back the loan on time.
“As Founder and CEO of FFAWN, I am ultimately responsible for anything that goes wrong,” Blige correctly told TMZ. “The problem is that I didn’t have the right people in the right places doing the right things. This should have never been allowed to happen, but it did and now we are fixing it.”
It seems that Mary should have realized she didn’t have the right people in place when the bank kept sending collection letters.
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