Master P Sued by Bank

November 7, 2000 -- It seems that there is a limit, in fact, to Master P's success. A Louisiana bank has filed a lawsuit for more than $700,000 against the rap mogul.

According to the New Orleans Times-Picayune, Bank One Louisiana alleges that Master P (real name Percy Miller) has fallen behind on repaying a promissory note made by the bank in May 1999. The suit, which was filed Oct. 20, seeks $743,000.

The lawsuit gives substance to rumors that the No Limit empire, which has branched into fashion and sports management, may be having financial issues. The label, which supplanted Death Row as the premiere gangsta rap outlet in 1997, scored a coup in 1998 by signing Death Row stalwart Snoop Dogg to its roster. No Limit's sales have cooled of late, though its last high-profile release, the 504 Boyz's Goodfellas, went gold in July. Master P himself has an album tentatively slated for a Nov. 28 release.