NFL Running Back Ordered to Pay On Defaulted Load (BBJ Story)
A Maryland judge has ordered Washington Redskins running back Adrian Peterson to pay about $2.4 million after he defaulted on a loan from a Montgomery County lending service.
Bethesda-based Democracy Capital Corp. sued Peterson and his business, Adrian Peterson All Day Inc., in Howard County Circuit Court on June 6 claiming the former NFL Most Valuable Player failed to pay the balance of a $4 million loan his business took out in April 2016. The loan, which carried a 15 percent interest rate, was taken out prior to the start of Peterson's final season with the Minnesota Vikings. Peterson and his business failed to make the first $200,000 payment on the loan due in July 2017 and the interest rate for the loan rose to 23 percent, according to court documents. They also did not pay back the loan in full when it reached maturity on Feb. 15, 2018, the documents show.