updated: February 2024
Herb Wilkins Jr, son of Sheran R Wilkins and Herbert P Wilkins Sr, owes over $1,860,063 via his company (SCI Fund II, LLC, which Herb owns and operates) for a $700K short-term cash loan he (via his company) borrowed from me in January 2017. A one-year loan, it was due to be paid back by January 2018. Here is the promissory note that he signed.
In January 2018, Herb requested we continue the loan for a year.
In December 2018, Herb said he would begin making interest payments in April, and requested we continue the loan for another year. But Herb never made any payments.
In September 2019, Herb asked if we could continue the loan for another year, and I said no. He said OK, and that he would pay off everything as soon as possible.
In February 2020, Herb said he was ready to pay me back in full, and asked for my bank transfer information. But Herb never made any payments.
The interest on the loan so far is $633,063. Interest is adding up at $244.52 per day.
But Herb Wilkins Jr has not honored his agreement, and has made no payments. The loan is now 1494 days overdue. Late fees so far: $535,500.
Herb Wilkins Jr is the son of Sheran R Wilkins and the late Herbert P Wilkins Sr, an early investor in BET and Radio One.
He is the managing director of SCI Ventures.
He is a former partner of Syncom Venture Partners, and member of the board of directors for the Network for Teaching Entrepreneurship (NFTE) in Baltimore, Maryland.
Herb received a B.S. in Marketing from the University of Maryland and a M.B.A. from the F.W. Olin School of Business at Babson College.