Jay Z Deliberately Defies Judge In Arrogantly Missing Court Dates And Is Slapped With A Subpoena From The U.S. Government

May 9. 2018

Jay Z and wife Beyonce

Rap music fraud Jay Z has been ordered into court by U.S. District Judge Paul Gardephe. The judge stated in court after Jay Z blew off another hearing, "I am granting the S.E.C.'s application to enforce the subpoena. The testimony has been delayed for five months, and I do not intend to tolerate any further delay." The SEC is the U.S. Securities and Exchange Commission.

Jay Z bragged to the world that the company Iconix paid him $200,000,000 for his Rocawear name and clothing line, but it was a lie. Iconix took two write downs totaling over $200,000,000 and listed it as losses on Rocawear. That means Rocawear was worthless. I've never seen anyone in Rocawear clothes.

A write down is the "reduction in the estimated or nominal value of an asset." In other words, Jay Z and Iconix committed criminal fraud and at the company's shareholders' expense. It was a very fraudulent, dirty business deal. The massive write-down caught the attention of the Securities and Exchange Commission, who are attempting to ascertain just how much Jay Z was paid for the sale of Rocawear, but he refuses to come to court to testify.

Jay Z stated he is too busy to go to court. Jay Z is not the president or a member of Congress. He's a crooked rapper who steals from others for a living to live a lifestyle he is not entitled to by law, as he is doing so on criminally stolen assets he unlawfully stole from others. Certainly he can make time to go to court for a few hours. These idiotic celebrities really have an inflated sense of their own importance.

The fact of the matter is Rocawear was never worth $200,000,000. Nowhere near it. All of Jay Z's so-called business ventures are stolen and overstated, based in fraud, intellectual property theft and unfair competition. Jay Z even admitted once that he stated his former company Rocafella was worth $125,000,000, but the company that sought to purchase it did a proper audit and investigation and discovered it wasn't even worth $20,000,000. When caught in the brazen lie, Jay Z blamed it on rap mogul Russell Simmons, stating he told him to deceive people about the value of his assets. Only idiotic, crazy people do things like that.

Years before the current incident regarding the SEC investigating Jay Z for inflating sales figures, I stated in a June 5, 2015 article that Jay Z keeps violating SEC federal rules, which are law, in grossly inflating the value of his failing companies, which he tries to sell to others in criminal violation of the law (Jay Z And Company Overvalued Tidal In Violation Of SEC Rules). The fact of the matter is Jay Z and Beyonce's fashion lines have failed, selling quite poorly. The clothes look cheap and tacky. They are not selling well at all. Never have. It's all PR hype.

Jay Z

Rocawear, Ivy Park and House of Dereon have all been sales failures. The true sales figures are being hidden to save face. Jay Z and Beyonce try to project an image of being business savvy billionaires, but in reality they are thieving frauds, robbing and swindling people, while hiding their massive financial failures. Their net worth is no where near what they claim. The truly wealthy, successful black people in sports and entertainment are Bob Johnson, Michael Jordan, Oprah Winfrey, Grant Hill and Byron Allen, among others. They have the intelligence, money and assets. 

Beyonce and Jay Z live in crazy town where anything they say is true. Much like the way they go around lying at the drop of a hat about writing songs ad designing clothes they criminally stole to fraudulently inflate their net worth and bank accounts. However, they have been experiencing many flops, due to the substandard mess they turn the rip-offs into in the marketplace.

Beyonce and Jay Z are two liars who steal assets from others, such as copyrights and trademarks. All these thefts make up their net worth and they are actually disgraceful and devious enough to brag about that. It is absolutely criminal fraud that those two thieving idiots are ranked in magazines such as Forbes and Fortune regarding their alleged net worth, when all the songs, videos and fashions they release are stolen via criminal copyright infringement and trademark infringement.

It has become a farce and regrettably it is tainting the record books and in a manner that will prove very damaging to publications like Forbes, Fortune and the Guinness World Book, who keep ranking the deceitful, thieving couple, based of false data they submit. It's like Bernard Madoff bragging about his net worth (before he was arrested and thrown in prison for life for massive financial crimes). The truth will come out and history will corrects itself. Beyonce and Jay Z will be in the same predicament as Milli Vanilli, having won awards for work they did not do (stealing songs and music videos).

Jay Z and Beyonce have greatly overstated their net worth in trying to claim they are billionaires, when they are no where near it. They are going to get into trouble with the government and the public. The truth about their net worth and real ages will come out for all to see. They are among the biggest frauds in music and they have committed serious financial and social crimes that have harmed many innocent people, much like their crazy cohort, Madonna. Read about their man thefts in the "RELATED ARTICLES" section below.

STORY SOURCE

Jay-Z ordered to appear in court after ignoring SEC subpoenas

Updated 6:29 PM ET, Thu May 3, 2018 - (CNN)A federal judge has ordered Shawn Carter, better known as Jay-Z, to explain why he shouldn't have to testify in an SEC probe into Iconix, the company that now owns the Rocawear clothing brand he co-founded. Carter must appear in a Manhattan court room on May 8 to make his case, according to a court document made public Thursday.

The SEC said it asked a federal judge to step in after Carter ignored two subpoenas requesting his testimony. Carter is not the focus of the SEC probe. Rather, the agency is focused on Iconix, a brand management company that owns labels including Candie's, London Fog and Rampage. Carter and business partner Damon "Dame" Dash sold the rights to their urban apparel line Rocawear to Iconix in 2007 for $204 million. The SEC says Carter and Iconix "maintained publicly-disclosed partnerships related to the Rocawear brand" after the sale.

Regulators are investigating "potential violations" of federal financial disclosure laws by Iconix, the SEC said in a statement. As part of that probe, the investigators issued Carter a subpoena seeking his testimony in November 2017 — but he never showed up. It issued a second subpoena in February that Carter also ignored...

https://www.cnn.com

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