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Fayetteville Company Sues Jonesboro Firm Over Unpaid LoansLock Icon

1 min read

A Fayetteville company has accused a Jonesboro firm of fraud, saying it has not repaid loans taken out last year.

Moneyball LLC said in a lawsuit filed this month in Washington County Circuit Court that Rice SAC Investments LLC of Jonesboro borrowed $40,000 from Moneyball in May 2022.

Nicholas Mason is Rice SAC’s registered agent and also has been named as a defendant in the case.  

Rice SAC was scheduled to repay the loan amount plus a $10,000 convenience fee by the end of May 2022. The money was supposed to be used for real property. 

But at the end of May, Rice SAC didn’t repay the loan. Instead, Mason suggested a new deal: The $40,000 loan would be rolled into a new one and Rice SAC would be required to repay that amount plus an $11,000 convenience fee by the middle of June 2022, the lawsuit said. Moneyball, which is led by Jonathan Million, agreed.

“However, upon extending Mason, through his company, Rice SAC, the loan amount, Mason absconded with the money and failed and otherwise refused to communicate with Plaintiff,” said the lawsuit, filed by Andrew Myers of Taylor Law Partners LLP of Fayetteville. 

Moneyball is seeking at least $61,000 in damages that include breach of contract and fraud.

As of Thursday afternoon, Mason had not filed an answer in the case. He also didn’t immediately answer an email seeking comment. 

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