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EXCLUSIVE: Bank Sues Michael Jackson’s Doctor Arnie Klein For $1 Million

Dr. Arnold Klein, Michael Jackson‘s dermatologist and close friend, is being sued for a million dollars, RadarOnline.com has learned.

Bank of America is taking the King of Pop’s long-time doctor to court, claiming breach of written agreement, unjust enrichment and indebtedness, among other allegations, in documents obtained by RadarOnline.com.

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The lawsuit stems from a line of credit the high-profile Dr. Klein took out in July 2008.

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According to the filing, “by terms of first agreement, Plaintiff provided Defendant with a revolving line of credit for $500,000.”

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Trouble arose in September 2009, when Klein missed a $100,000 payment that was due.

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“Defendant defaulted under the terms of the first agreement by failing to make the payment due on September 1, 2009,” the filing alleges.

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“Plaintiff demanded performance thereof but Defendant wholly failed, refused and neglected to perform as alleged herein.”

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Klein went on to miss other large payments, alleges the lawsuit, which was filed in Pasadena on April 29.

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It states: “To date, defendant has failed and refused and continues to to fail and refuse to pay the principal sum of $456,234. 85, or any part thereof although demand therefore has been made and said sum is due and payable from Defendant, together with interest thereon at the default rate of 10.79% per annum from August 10, 2009.”

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Bank of America is seeking $937,381.20 in damages, attorneys fees — and is seeking a jury trial.

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Comment is being sought from Dr. Klein.

The next court hearing is slated for September, 2010.