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.
The lawsuit stems from a line of credit the high-profile Dr. Klein took out in July 2008.
According to the filing, "by terms of first agreement, Plaintiff provided Defendant with a revolving line of credit for $500,000."
Trouble arose in September 2009, when Klein missed a $100,000 payment that was due.
"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.”
Klein went on to miss other large payments, alleges the lawsuit, which was filed in Pasadena on April 29.
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.”
Bank of America is seeking $937,381.20 in damages, attorneys fees -- and is seeking a jury trial.
Comment is being sought from Dr. Klein.
The next court hearing is slated for September, 2010.