Major Wright, who plays as strong safety for the Chicago Bears of the National Football League (NFL), is facing major lawsuit. Wright is being sued over African diamonds, as reported by TMZ.
As rumour has it, Wright had a loan of $75,000 in 2012 in order to buy South African diamonds, ranging from 21 to 31.5 carats. Not known to many, Wright manages TDW Diamonds, a company which involves diamond trading. Allegedly, the persons who provided him the money claim that Wright has not paid them yet and that the amount of interest has already skyrocketed.
Lenders Marc Geffrard and Jimmy Michel said that Wright agreed to pay them the total amount of money he loaned, in addition to 100 per cent interest by March 2012. From the $75,000 original loan money, Wright was supposed to pay the lenders double, amounting to $150,000. Well, the lenders have the right to get infuriated over Wright's unpaid loan. If you borrow money from somebody, you take it with their permissions and you promise to pay it back in due course.
We're just wondering what was going through Wright's mind when he agreed to pay the 100 per cent interest for the borrowed money. Under the Florida law, charging more than 18 per cent interest on a loan is strictly prohibited, and any person or organisation that charges a hefty interest loses their right to collect the interest at all. So, it is probably Wright who will win in the end, and the lenders may never see all that money.
It is wise for Wright to invest on something like the company that he operates. After all, being an athlete is not guarantee to last for a lifetime. However, if Wright will loan money, regardless how much the interest is, he should make sure to pay it with all his might to avoid getting into trouble.
Wright has not released any official statements yet regarding the subject on hand.