HOLLYWOOD, Calif. — Citibank has filed a lawsuit against Ed McMahon, with the hope of recovering nearly $200,000 lent to the "Star Search" icon, according to The Associated Press.
The lawsuit was filed in Los Angeles Superior Court on June 9, with the bank seeking at least $179,687 in damages, as well as attorney's fees on debt incurred within the past four years, AP says.
Earlier this month, McMahon appeared on CNN's "Larry King Live," where he spoke out on his current financial struggles and the possible foreclosure of his multimillion-dollar Beverly Hills mansion.
"If you spend more money than you make, you know what happens," the former sidekick to Johnny Carson told the host. "You know, a couple of divorces thrown in, a few things like that. And, you know, things happen."
McMahon's lender, Countrywide Financial Corp., filed a notice of default in March on $4.8 million in mortgage loans.
Appearing with his wife, Pamela, the 85-year-old McMahon said he was currently $644,000 behind on his mortgage payments for the 7,000-square-foot home, which is located in the same neighborhood as Britney Spears. He said the couple was currently negotiating with Countrywide to set a foreclosure date.
Wearing a neck brace, McMahon said he hasn't been able to work in two years since injuring himself in a fall. Still, the couple admitted they've made errors along the way as well.
"We didn't keep our eye on the ball. We made mistakes," McMahon's wife said. "It's embarrassing to say the least, and it's sad, because you know, Ed's worked his whole entire life."
McMahon told King he remains hopeful, as there has been renewed interest in the house since news of his struggles first broke.
"I'm optimistic," he said.
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