EXCLUSIVE: Ex-NFL star Ray Lewis – Settles $20 Million Suit with Ex-Business Partner for Screwing over His Charity
The Dirty can exclusively reveal ex-NFL star Ray Lewis has settled the $20 million dollar suit against his ex-business partners … who he accused of screwing over his charity that helped single moms get a home.
Last year, Lewis and his charity L2 Family Foundation sued American Bank and a branch manager for $20 million due to alleged fraud.
L2 Family Foundation is an organization that helps single mothers become home owners.
The bank partnered with Lewis and his charity and agreed to donate $1 million per year for 5 years and $10k for other purposes. In exchange, the bank would have the first right of refusal for any loans taken out by the families.
Lewis and the charity brought over $4.5 million in loans to American Bank. However, one night out of the blue the bank closed the branch and abandoned their duties per the deal … like donating the millions for the single mothers.
American Bank fired back denying they committed fraud due to them never signing an official contract with Lewis. They sought to have the suit tossed out of court. Then on March 9th, Lewis and his charity filed docs explaining they are voluntarily dismissing all claims against American Bank and the manager.
According to docs, the parties reached a mutually agreed upon settlement. Per the confidential deal, the case will be closed and the terms will be sealed.