The $120,000 Love Loan: How a Businessman Took the Money and Never Looked Back
She lent him everything. He gave her nothing but court dates.
Based on Cook County Circuit Court case: Lynn Steffen v. Ronald Onesti, Case No. 2023L006744
In a tale that reads like the script of a Hallmark movie gone off the rails, Arlington Heights resident Lynn Steffen says she tried to help a friend—or perhaps more—when he needed it most.
That friend? Ronald Onesti, a public face of Italian-American entertainment and self-styled showbiz impresario.
What she got in return, according to her July 2023 complaint filed in Cook County, was silence, broken promises, and zero repayments on a $120,000 personal loan — plus additional funds allegedly provided later under the same terms.
“All Trust, No Return”
According to the court filing, Steffen and Onesti entered into a formal Loan Agreement on May 12, 2017, where she extended $120,000 to Onesti at a 4% interest rate, repayable via monthly installments of $3,500 through April 2022.
The agreement wasn’t informal. It included:
A written repayment schedule
A Guaranty Agreement personally signed by Onesti
An acceleration clause allowing Steffen to demand full repayment upon default
Onesti, the suit claims, never made a single payment.
From Business to Betrayal
The complaint alleges that Steffen provided additional funds to Onesti beyond the original $120K. Despite repeated demands, he failed to pay anything back.
When attempts at repayment failed, Steffen invoked the contract’s acceleration clause. The result? A lawsuit citing:
Breach of Contract (Count I)
Unjust Enrichment (Count II)
If proven, both claims could entitle her to not only principal and interest, but also legal costs and attorney’s fees, according to Section 6 of the agreement filed as Exhibit A in court.
Love, Loans, and Leverage?
While the suit does not explicitly state a romantic relationship, the nature of the loan — personal, unsecured, and substantial — opens the door to speculation.
It is not the first time Onesti has been on the receiving end of civil lawsuits alleging financial negligence. From employee wage theft to bounced checks and vendor fraud, his name appears across numerous Illinois court dockets.
But this case may be the most personal.
“He Took Advantage of Her Kindness”
The lawsuit, filed by attorneys at Litico Law Group, underscores a pattern: Onesti’s repeated willingness to make commitments, sign papers, and allegedly walk away from repayment.
Steffen is seeking the full amount owed — including statutory pre-judgment interest and all legal expenses — and has requested a jury trial.
As of this writing, Onesti has not publicly commented on the allegations.
📑 Court Records Cited:
Case No. 2023L006744, Cook County Circuit Court (filed July 6, 2023)
Loan Agreement and Guaranty Agreement (Exhibits A & B)
Complaint by Plaintiff Lynn Steffen via Litico Law Group