Prince, the acclaimed pop and rock star, filed a $116,000 lawsuit against collection agency Capital Asset Protection, claiming it withdrew a six-figure sum from his bank account without permission. He claims the extraction of funds was illegal and he wants his money back.
Capital Asset Protection allegedly took the money following another lawsuit, which Prince lost, concerning a music production contract. The company believed it was within their rights to take the money following that court decision and withdrew the funds.
The withdrawals took place sometime in June, and were for the amounts of $105,949.14 and $10,278.94, according to the filed lawsuit filed with the Los Angeles Superior Court on Thursday.
Lawyers for Prince say that the original judgment was dropped in October 2011, nullifying the lawsuit that Prince lost, and as such, negated the sum Prince owed to the production company. Therefore, they claim, the collection agency had no right to take the sum of money.
Prince is seeking the return of the full amount plus interest. According to reports, the "Purple Rain" singer has a net worth of between $100 million and $250 million.