We’ve known for a long time that Mike Lindell and his company, MyPillow, has some serious money problems, but we didn’t know just how much trouble he is in or that it’s about to get a lot worse, thanks to Lindell’s own stupidity:
MyPillow owner Mike Lindell said his company was duped into borrowing $1.6 million at a 409% annual interest rate, the latest sign of financial distress for the far-right pillow salesman.
[…]
Cobalt, Streamline, and two men named as defendants “took advantage” of MyPillow, “a cash-strapped business that needed funds quickly,” the lawsuit said. The lawsuit claims that the September agreement to borrow nearly $1.6 million was stacked against MyPillow and risked ruining the company.
[…]
It’s at least the third case filed in recent months involving MyPillow and merchant cash advances. In October, a company called Lifetime Funding said Lindell and his companies defaulted on a $600,000 advance barely a month after borrowing it. About a week later, another company, Shine Capital Group, filed a suit saying they defaulted on a $2 million deal signed in July.
Boy, with that kind of track record, it’s a wonder that the Orange Felon didn’t appoint Lindell to the Dept of the Treasury or at least DOGE!
