MyPillow CEO and staunch Donald Trump supporter Mike Lindell has filed a third lawsuit against merchant cash advance lenders, alleging that his company was subjected to "unconscionable" loan terms, including an exorbitant 385% interest rate.
The lawsuit, filed last week in Carver County District Court, targets several named and unnamed defendants, claiming that a $2 million loan taken out in July 2024 was illegally structured to evade New York and Minnesota usury laws. Lindell alleges the agreement with Merchant Capital, which requires daily payments exceeding $41,000 and a total repayment of more than $3.91 million, was a predatory scheme disguised as a purchase of future receivables.
