Legacy Bank has come and gone with barely a ripple in the Qcity, but it leaves in its wake a big-time lawsuit.

Former Panther Mike Minter and others have filed suit in Mecklenburg Superior Court alleging that the banks’ founders committed fraud by claiming to have Beyonce and Magic Johnson as investors as well as overstating the amount of money it had raised.

The bank pitched itself as being dedicated to community services with a focus on Charlotte’s African American and Hispanic communities.

Read the full article at charlotteobserver.com.

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