Lawsuit: Chicago Bull Owes Big for Bling

Chicago Bulls center Jerome James is accused of dropping the ball when it came to paying off a 6.91 carat diamond engagement ring -- and now the jeweler is out for revenge.

In the civil suit, filed in L.A. Superior Court today, Lemmerman's Inc. claims James bought a $70,000 engagement ring in 2008. The jeweler claims Jerome paid $50,000 up front and promised to pay the balance.

And there's more -- according to the docs, Lemmerman's maintained a credit account for James ... who allegedly racked up a grand total of $96,000 in bling-related purchases.

The jeweler claims the seven-foot Bulls backup hasn't made a payment since January 2009.

Fun fact: Jerome James ruptured his Achilles tendon in January 2009, and hasn't played one minute for the Bulls this season.