MyPillow CEO Mike Lindell's bid to evade massive debt is totally 'preposterous,' cash advance firm says [View all]

Source: The Independent

Tuesday 28 January 2025 15:07 EST


Pillow pitchman, right-wing conspiracy theorist, and outspoken Donald Trump disciple Mike Lindell’s fiery allegations about a New York cash advance firm’s supposed “pattern of racketeering” are nothing more than an “absurdity,” according to the lender, which is now taking aim in court filings at the MyPillow founder as an unrepentant fabulist whose “preposterous” lawsuit should be thrown out altogether.

Contrary to Lindell’s ongoing assertions that he has been defrauded by Lifetime Funding, an outfit that fronts money to cash-poor entities in exchange for future receivables, the outspoken pillow salesman has actually made nearly $300,000 on the deal he now decries as “usurious,” according to a motion to dismiss filed in Minnesota, where MyPillow is based.

Lifetime’s motion says the 63-year-old Lindell and his attorneys “half-heartedly assert” in an October 2024 suit that Lifetime has violated the federal Racketeer Influenced and Corrupt Organizations (RICO) Act, a 1970 law intended to target organized crime, and goes on to mock Lindell’s assertion that its business practices are “unconscionable.” In his legal action against Lifetime, Lindell claimed he never realized the effective interest rate on the $600,000 the company advanced him against later sales would come to 441 percent.

“To succeed on this claim, Plaintiffs would have to establish that Lindell — a world-famous businessman who once had access to the Oval Office and the ear of the President of the United States — is on par with the commercially illiterate consumer that the doctrine of unconscionability was designed to protect,” the January 23 motion states. “Respectfully, this is preposterous.”

Read more: https://www.the-independent.com/news/world/americas/mike-lindell-mypillow-donald-trump-lifetime-funding-b2687914.html