IN THE FEDERAL COURT OF THE COMMONWEALTH OF REDMONT
CIVIL ACTION
Bank Of Reveille (Represented by Dragon Law)
Plaintiff
v.
Mysticphunky
Defendant
COMPLAINT
The Plaintiff complains against the Defendant as follows:
On April 6, 2024, the defendant entered into a loan agreement with the plaintiff for a sum of $47,000 designated for personal use. The terms of the agreement stipulated a fixed interest rate of 12%, with repayment scheduled over 9 weeks at a rate of $5,848.88 per week. As collateral for the loan, the defendant pledged three properties:
1. R066 valued at $2,775
2. c653 valued at $2,185
3. ab004 valued at $40,000.
The initial week, the defendant made the first installment payment on the loan. Afterwards, the defendant ceased communication and left from the Bank discord server. Expressing concern regarding repayment, the bank Director of Operations contacted the defendant, only to be informed that they anticipated financial hardship and intended to discontinue activities within the DC community. Therefore defaulting on the rest of the loan amount including interest.
I. PARTIES
- Nacholebraa (Director of Operations)
- Mysticphunky (Defendant)
II. FACTS
- On April 6, 2024, Mysticphunky engaged in a personal loan agreement with the Bank of Reveille, securing a loan amounting $47,000 at a fixed interest rate of 12%.
- The terms of the loan specified weekly payments over a duration of 9 weeks, with each installment set at $5,848.88.
- After making the initial payment, the defendant ceased communication and left the associated Discord server.
- Despite efforts by the bank's Director of Operations to facilitate continued communication and payment, the defendant disclosed their intent to discontinue involvement within the DC community, indicating an intent to default on the loan.
III. CLAIMS FOR RELIEF
1. The defendant's default on the loan and failure to repay the bank constitutes a breach of contract, warranting the bank to seize collateral and pursue legal action accordingly.
2. The defendant's failure to fulfill their obligation to repay the loan has resulted in financial losses for the bank, encompassing not only the outstanding balance but also the accrued interest.
IV. PRAYER FOR RELIEF
The Plaintiff seeks the following from the Defendant:
- In debt recovery, we seek $46,861.12 payable to the Bank of Reveille.
- In liquidated damages, we request the transfer of ownership of the three properties that were pledged as collateral in the event of the defendant's default on the loan agreement.
- We request legal damages amounting to $14,000, representing the costs incurred by the Bank of Reveille in pursuing legal recourse.
By making this submission, I agree I understand the penalties of lying in court and the fact that I am subject to perjury should I knowingly make a false statement in court.
DATED: This 15th day of April 2024