Ed McMahon's Money Troubles Continue

Citibank sues TV personality to recoup a nearly $200,000 loan

By Natalie Finn Jun 20, 2008 6:40 PMTags
Ed McMahonJeff Vespa/WireImage.com

Ed McMahon apparently hasn't been playing favorites when it comes to determining which banks not to pay.

Citibank sued the financially strapped TV personality earlier this month, claiming he failed to make good on a nearly $200,000 loan.

According to the complaint filed June 9 in Los Angeles Superior Court, Citibank wants $179,687 from McMahon, as well as attorney's fees incurred while trying to recoup the debt.

McMahon's rep said Friday that the former Tonight Show sidekick and his wife hadn't yet been served with the lawsuit.

It was revealed earlier this month that McMahon was facing foreclosure on his Beverly Hills home after falling $644,000 in the hole on mortgage loan payments.

During an appearance on Larry King Live June 6, McMahon attributed his money troubles to the simple facts of life.

"Well, if you spend more money than you make, you know what happens," the thrice-married 85-year-old said. "And it can happen. You know, a couple of divorces thrown in, a few things like that. And, you know, things happen. You want everything to be perfect, but that combination of the economy, I have a little injury, I have a situation. And it all came together."