Wright and Williams decided to get into the diamond business, but are being accused of not repaying a loan.
Wright and Williams operate a diamond trading company called TDW Diamonds, and allegedly borrowed $75,000 last year in order to purchase raw South African diamonds (ranging from 21-31.5 carats).
Problem is … the lenders are saying they still haven’t been repaid, and the interest rate is borderline mafia-level.
According to their lawsuit, lenders Jimmy Michel and Marc Geffrard claim Wright & co promised to repay the loan PLUS 100% interest by March 2012 … a total of $150,000
100% interest? Sounds a little shady, according to TMZ you can’t collect more than 18% on any loan in Florida. Wright and Williams need to be careful, people who charge 100% interest normally have more violent ways to get their money, if they courts don’t work.