Kanye West took out a $2million line of credit just months before his wife, Kim Kardashian, was held up at gunpoint in her Paris apartment and robbed of $5.6million worth of jewelry.
The agreement states that the bank will make advances to Kanye in a principal amount not exceeding $2million. Kanye has until 2036 to pay back the funds.
Kanye purchased a New York apartment in the SoHo neighborhood for $1.25million, and combined it with the unit next door.
According to reports, he secretly listed the home for $4.5million in 2013, but no one bit at the listing.
And last month, Kanye purchased Kim a 20-carat Lorraine Schwartz emerald cut diamond engagement ring worth $4million, which was stolen during the robbery last month along with another case of jewelry.
Kim has filed a federal lawsuit against MediaTakeOut.com for its posts, one of which alleged there was evidence Kim “staged” the robbery.
Insurance documents state that the 13 items taken during the incident are worth approximately $5.6million.
Kim, 35, was robbed by a group of masked men who forced their way into her Paris apartment, tied the reality star up with zip ties and duct tape, and made off with millions of dollars worth of jewelry.
After the raid, the five men were seen escaping on ‘velibs’ – hire bicycles which can be rented all over Paris.
Her publicist had said the thieves were disguised as police officers but sources close to Kardashian told TMZ their uniforms looked more like they came from a Halloween store.
They also claimed Kardashian told police the masked robbers were ‘extremely hesitant and tentative’ and arguing over how to pull off the daring heist.
It is understood the thieves were white, middle-aged Frenchmen. None have yet been caught.