Cobalt Funding Solutions, the desperation-level lender that’s effectively a payday loan shop for businesses, has filed a lawsuit seeking the $1.5 million mustachioed pillow tycoon Mike Lindell owes them for the “usurious” line of credit he took out this year, the Independent reports.
Lindell had sued them earlier this month to get out of the 409 percent interest loan. Lindell told the Independent, and without providing specifics, that Cobalt has “gotten in trouble before” for its business practices, and that “there was a lot of stuff that went around with that,” but that “they keep doing what they’re doing.” However, Lindell added, “I don’t know what it all involves.”
“I just don’t want to get out in front of things here. The lawyers are handling that. It’s not my priority right now, I’m trying to run companies and get rid of the electronic voting machines. That’s my focus,” Lindell said about the lawsuit Cobalt just served him with for not paying up.