July 28th 2023.
Zion Williamson's career as a professional basketball player has been going in a direction that wasn't expected. The New Orleans Pelicans center, who had once been touted as the next big thing in the NBA, has been plagued by injuries and now is facing a lawsuit over a loan he hasn't paid back.
According to The Associated Press, the lawsuit was filed in the U.S. District Court in New Orleans by Ankr PBC, a California-based company specializing in blockchain-related technologies. The company is seeking repayment of the $2 million loan they gave Williamson, his stepfather, Lee Anderson, and his mother, Sharonda Sampson.
Ankr PBC had been hoping to establish a marketing relationship with Williamson and had initially paid $150,000 to Anderson, who was representing the player. Anderson had represented to Ankr that the loan was urgently needed to cover the family's investments, including the purchase of real estate in New Orleans.
The loan was supposed to be paid back by August 21, 2022. Anderson requested several extensions, but eventually Ankr PBC received a payment of $25,000, which bounced. In April, a forbearance agreement was made between the parties, with Ankr agreeing not to sue if they received $500,000 by April 25 and the rest of the loan by July 6.
The company did receive the $500,000, but $300,000 of it covered interest. They are still waiting for the remaining $1.8 million. As of now, the case is still pending and Williamson and his family have yet to pay back the loan.
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