Image for Prince’s Bank Account Fleeced, Sues Capital Asset Protection For $116,000

Prince’s Bank Account Fleeced, Sues Capital Asset Protection For $116,000

Written by Kiel Egging on October 21, 2012

Prince is suing Capital Asset Protection for over $100,000 after the agency allegedly debited his bank account for payments he wasn’t supposed to make.

TMZ reports that according to a lawsuit Prince has filed in LA County Superior Court, Capital Asset Protection made two withdrawals from Prince’s bank accounts back in June – one of $105,949.14, and the other $10,278.94.

CAP claims they collected the payments in regards to a lawsuit that Prince previously lost over a music production contract.

However, in the new documents, Prince claims a judge vacated that original judgement in October 2011, erasing his debt to the production company. Based on this, Prince is now accusing CAP of collecting on a debt that didn’t exist.

The Purple Rain singer is suing CAP for return of his $116,228.12 owed, plus interest on top of that. Let’s see how this one will pan out..

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