Thursday, December 2, 2021

UPDATE: Paul Pierce Hit with Lien on L.A Home and Cannabis Business Over Unpaid Loan

paul pierce*Reps for NBA star Paul Pierce hit us up to set the record straight about the athlete being hit with a lien on his LA home for allegedly owing $162,273.59 to a creditor who loaned him money for his CBD company called, The Truth.

According to court documents obtained by The Blast, the lien also covers Pierce’s marijuana cultivation operation near San Bernardino, CA, and on this home in Los Angeles.

Attorney Ronald Richards, who represents the complainant, said, “Mr. Pierce” aka The Truth has committed his 5th personal on this one by blatantly ignoring a court judgment which has now resulted in all of his assets being subject to a judgment lien, his credit impaired, and interest is accumulating at 10% a year. “

But according to the baller’s reps, our report about the matter has caused “confusion and damage” to Pierce’s reputation. 

Read the full statement below. 

OTHER NEWS YOU MIGHT HAVE MISSED: ‘For The Record’ Podcast: Lee Bailey & Steven Ivory See Michael Henderson in Concert & Reminisce About R&B’s Bygone Era – LISTEN

In an update on the case provided to us by Pierce’s legal team:

Mr. Pierce did welcome a fellow investor to join him in a new cannabis industry-related enterprise. As sometimes occurs with investments, this one did not play out exactly as that other investor had expected, which led that investor to sue Mr. Pierce and place liens on some of his property. My client maintains that this investor did so prematurely in a misguided effort to accelerate the timeline of events.

Despite this unhelpful maneuver, as also sometimes occurs in such scenarios, Mr. Pierce and this other party were then able to resolve their apparent dispute without actually requiring the intervention of the legal system. As of this writing, the loan in question has been fully repaid by Mr. Pierce, who is now working with other counsel to officially dismiss the civil matter that is the focus of your articles.

It was previously reported that the retired Celtics star launched his own line of hemp-derived CBD targeted toward fellow athletes, according to a press release. 

“I’m passionate about making sure athletes have support before, during and after the main event,” he said in a statement.

As noted by boston.com, Pierce says vaping CBD helped him manage “crippling depression, post-traumatic stress, and anxiety resulting from a life-threatening nightclub stabbing in 2000,” the outlet writes. 

Paul co-founded a vape pen business last fall called Vape Vesper. 

“These type of medications should [be] … allowed in sports as an alternative to pain pills and other issues athletes deal with on a day-to-day basis,” Pierce tweeted back in October. 

Ny MaGee
Ny MaGee is a screenwriter and freelance reporter from Chicago -- currently living in Los Angeles and covering A-list entertainment for various outlets, including Emmys.com. She has worked for: Miramax, MTV & VH1, The Jim Henson Company, Hallmark Channel, Paramount Pictures, and for iconic indie film producer Roger Corman.

YOU MAY LIKE

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

SEARCH

THE CULTURECALENDAR: WHAT'S NEW & BLACK ON TV

TRENDING