Marc Anthony Suing Former Business Partner
12/5/2013 5:35pm EST | By: Joe Bowers
Grammy award winner Marc Anthony is suing a former business partner over an unpaid loan.
The 45 year-old singer invested the money into digital music company ClubCreate Inc., which was run by Corey Simmons, in 2012, but instead of using the funds for the business, Simmons allegedly diverted $100,000 into his own personal bank accounts to pay for rent, dental bills and shopping sprees, according to the New York Post.
According to the legal documents filed in a New York court, Simmons was allowed to use Anthony's name and image for promotion, but he has reportedly refused to repay the loan or give up 25 per cent of his stake in the company, which the singer claims he was promised.
Simmons is also reportedly facing claims from a federal court he looted company assets.