Konami and Autumn Games are being sued for fraud by City National Bank.
Courthouse News is reporting that the bank is suing due to not receiving any money on the $15 million loan it have the defendants. In addition, the bank claims that the pair “were false at the time they were made and that defendants never had any intention of repaying the loan as promised.
“Rather than paying game-related proceeds directly to CNB as agreed, defendant have kept all game-related proceeds for themselves and have refused to remit any such proceeds to CNB.”
The bank is looking for over $8.9 million in damages for “fraud, negligent misrepresentation, breach of contract, breach of covenant of good faith and fair dealing, money had and received, unjust enrichment, recovery of personal property, and punitive damages.”