Mary J's charity is in HOT water after TD bank lent the foundation $250k in 2011, and has only seen $400 of their money back...
The bank is now talking legal action to retrieve the rest of their money...
Mary J. Blige and Steve Stoute Foundation for the Advancement of Women Now is being sued by TD Bank over a $250k loan it took out back in June 2011.
According to a suit filed earlier this month in New York, the foundation agreed to pay the money back by December 2011, but when the time came to collect ... the org. had only put a $368.33 dent into the principal.
The bank claims it has demanded payment in writing on February 7 and 29, but hasn't heard back from the foundation.
The charity is also involved in other 'criminal' activities...
This lawsuit isn't the only troubles with which the foundation is dealing. It didn't file a federal tax return for 2010 and it's also being sued by musicians from a 2011 fundraising gala who claim when it came time for payment they were stiffed.
Mary J's rep assures, "We remain committed to our mandate of helping women gain the confidence and skills necessary to reach their full individual potential."
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