DJ Cleo reportedly in financial crisis
DJ Cleo allegedly breached Standard Bank’s R1 Million home contract.
The Wena Ng’Hamba Nawe hitmaker received the loan in 2006, and he failed to meet his payment obligation in 2022.
The DJ almost lost the house which is reportedly worth R2 million in 2022 but paid R10 000, which was reportedly chicken feed.
The bank has gone legal against Cleo and the court papers reportedly leaked which some social media users frowned against.
According to City Press, Standard Bank took DJ Cleo to court. The bank claimed it gave the renowned producer R1 104 000 in May 2006, understanding that he would pay R9 511.01 in monthly installments for 240 months (20 years).
The bank made effort to ensure DJ Cleo cleared the payment but he failed.
“Despite the plaintiff’s attempts, the defendants failed to conclude a payment arrangement with the plaintiff.”
