50 Cent was taken for a lot of money by an employee who secretly pocketed millions from rappers champagne and cognac biz, according to court documents.
The Queens-born rapper, who goes by the name Curtis Jackson, launched his Branson Cognac in 2018 and King’s Roador The King’s Path, champagne in 2019, through his company, Sire Spirits.
The liquor isn’t cheap, with cognac selling for $200 and up and bubbly for $150 or more.
But the company’s director of Brand Management, Mitchell Green, jacked up prices and received bribes from wholesalers of up to $2.2 million in so-called “agency fees”, according to Manhattan Federal Court records.
Green only confessed to the scheme in February 2020, “after two years of embezzlement from Sire Spirits,” because he was blackmailed by someone who threatened to expose him. The company fired him and took him to arbitration.
An arbitrator found Green responsible for the money he pocketed, along with another $948,096 paid to the wholesaler, and ordered him to pay another $2.7 million in attorneys’ fees, costs and damages for a total of a whopping $6.2 million, court records show.
A Manhattan judge confirmed the arbitrator’s decision in June. Lawyers for Green did not respond to messages seeking comment.