DETROIT (AP) -- A bank says a group of investors including former Lions defensive end Robert Porcher and Detroit businessman Bobby Ferguson defaulted on about $3.6 million loan to rehabilitate a historic building.
Pittsburgh-based PNC Bank filed a complaint Monday in Detroit federal court against Porcher, Ferguson and 10 others seeking payment. The group bought the Vinton Building in Detroit in 2005 for $500,000 with plans for offices, condominiums and shops, but the project stalled.
The lawsuit was first reported by The Detroit News.
Messages were left at a telephone number for Porcher, with a lawyer who has represented him in the past and with a Ferguson lawyer.
Ferguson was charged in September with conspiracy to commit fraud and launder money. He was an ally of former Detroit Mayor Kwame Kilpatrick.
Published: Wed, Dec 8, 2010
