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Ponzi Scheme

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Fat Joe Files Lawsuit Against Accountants For Allegedly Stealing Millions Of Dollars In A 'Fraudulent Scheme'

“I’ma spend his cream, seduce, and scheme.” If you’re not familiar with those lyrics, get hip as they are the catchy words to the single from the fictional characters “Shawna” and “Mia” from Issa Rae’s “RAP SH!T.” And it looks as if New York rapper Fat Joe is on the opposite side of those lyrics in real life. According to a report from Billboard, the “Lean Back” rapper is suing his accountants after claiming they stole millions of dollars in a “fraudulent scheme.”

Oct 4, 2022

Akon's Ex-Business Partner Claims Akoin And Akon City Are A 'Part Of A Fraudulent Money-Raising Scheme'

Talk about a way to watch the plot thicken in a business relationship gone awry. As previously reported by AfroTech, the ex-business partner of Akon claims that the singer still owes him four million dollars. In a new allegation, he now says that the Senegal native’s plans to build his own city could be a Ponzi scheme. AfroTech also shared the news of Akon’s plans to begin building a futuristic city in Africa. Per reports from Complex, Devyne Stephens has now asked a judge to freeze Akon’s New York assets in an effort to get his money more quickly. Those reports also reveal that the court documents say Akon is “flagrantly breaching two separate contractual promises.”

Mar 11, 2022