Ray Lewis and his L2 Family Foundation wanted to help 52 single moms in need put a down payment on for their families but Lewis says that won’t happen thanks to American Bank.
According to the retired Baltimore Raven, American Bank agreed to give L2 Family Foundation $5 million over 5 years to help fund Ray’s program. In exchange, L2 agreed to give American Bank the right of first refusal on all of the mortgage loans that resulted from the program. From those deals, Ray claims the bank got $4.5 million in business.
Unfortunately, just 9 months into the program, the bank closed the branch Ray was working with, without any explanation. Ray’s foundation never got the $5 million, or any of the other benefits they were promised, so they’re taking matters to court.
Ray and L2 are suing American Bank for $20 million which includes the money and benefits promised, as well as damage to Ray’s reputation.
