HOUSTON, TX — Rapper Chamillionaire appeared in bankruptcy court in New York on Monday after failing to meet payments on a loan for one chamillion dollars that he took out in 2008.
The Houston Community Bank, the originator of the loan, is said to be pursuing a complete liquidation of Chamillionaire’s assets, including a diamond encrusted dental grill that reads “Tittayze”.
John Dixon, the banker who made the loan to Chamillionaire was quoted as saying, “We thought he was good for it. He is, after all, a chamillionaire.”
Chamillionaire’s financial troubles are largely attributed to his recent legal loss to Weird Al Yankovic in July. In a verdict that stunned experts, a copyright proceeding determined that Chamillionaire had stolen his hit song, “Ridin Dirty” from Weird Al’s magnum opus, “White and Nerdy”. In his decision, Judge Phil Filigan ordered Chamillionaire to pay Weird Al damages in excess of a zillion dollars, an amount untenable for a mere chamillionaire.