50 Cent has sent a warning to the parent company of his liquor brand.
via: Radar Online
An alleged multimillion-dollar embezzlement scheme nearly led to the downfall of 50 Cent’s Sire Spirits cognac brand, RadarOnline.com has learned.
A recent 70-page New York State Supreme Court complaint filed by 50 Cent and Sire Spirits charged that individuals involved allegedly embezzled millions of dollars from Sire Spirits by illicit means.
According to the complaint, the accused individuals engaged in overcharging for the liquor sold by Beam Suntory – the spirits company that partners with Sire Spirits.
The reported move allegedly allowed Beam Suntory to pocket the excess funds – estimated to be more than $6 million.
The lawsuit targeted the individuals involved in the suspected scheme and implicated Beam Suntory – a multibillion-dollar international spirits company – of being complicit in the alleged fraudulent activities.
50 Cent’s Sire Spirits cognac brand also accused several additional individuals of manipulating the pricing structure of Sire Spirits’ products and capitalizing on the trust and partnership between Sire Spirits and Beam Suntory.
“Sire Spirits seeks to recoup millions of dollars embezzled in a fraudulent scheme,” Sire Spirits attorney Craig Weiner told RadarOnline.com in an exclusive statement. “The first co-conspirator, Mitchell Green, has already been found civilly and criminally liable in connection with this embezzlement scheme and is believed to be cooperating with federal prosecutors.”
“Sire alleges claims against Beam Suntory, its Chief Commercial Officer Julious Grant, and his business partner ‘Lord’ Michael Caruso,” Weiner continued. “As alleged in the complaint, Beam Suntory could and should have prevented this fraud from happening.”
“Shame on the lack of compliance by Beam.”
Meanwhile, Beam Suntory denied 50 Cent and his Sire Spirits cognac brand’s embezzlement allegations.
“Beam Suntory vehemently denies all allegations of wrongdoing,” the company responded in a statement. “It had no involvement in or knowledge of the fraudulent activity alleged in the complaint, and any allegation to the contrary has no basis in fact.”
It’s is undisputed that we honored all prior obligations to Mr. Jackson and Sire Spirits, and it is very unfortunate that the parties involved continue to misrepresent the facts and misdirect blame in an attempt to recover fees and damages,” Beam Suntory added.
Mitchell Green, one of the alleged co-conspirators accused by Sire Spirits of being involved in the embezzlement scheme, recently pled guilty to a federal charge of wire fraud connected to a separate case.
“Because these illicit commissions were baked into the price of the product, Sire Spirits overpaid on taxes, overpaid on customs and duties, overpaid on insurance, which is marked towards the value of the product,” 50 Cent’s attorney charged.
Although depositions are currently underway in connection to the alleged multimillion-dollar embezzlement scheme,the case is not expected to proceed to trial until early next year.
