Connect with us

Entertainment

50 Cent Faces $3 Million Counterclaim in Ongoing Legal Battle Over Sire Spirits

Published

on

Spread the love

The legal dispute between 50 Cent and his former consultant regarding alleged embezzlement within his Sire Spirits liquor company continues, with new developments revealing a counterclaim seeking $3 million in damages. Last year, 50 Cent sued Michael Caruso and Julious Grant for alleged fraud conspiracy, accusing them of embezzling millions of dollars. A recent report from Radar Online indicates that Caruso has filed a counterclaim, leading 50 Cent to request its dismissal and accuse Caruso of embezzling significant funds.

According to 50 Cent’s lawyer, Reena Jain, crimes committed by Caruso and his co-conspirators in connection with embezzling “agency fees” from Sire Entities invalidate their retaliation claims. The court documents state, “Ironically, the Caruso Plaintiffs have asserted claims against the Sire Defendants seeking damages of at least $3 million despite their central role in a fraudulent scheme. Crimes were committed in connection with millions of dollars in ‘agency fees’ embezzled from the Sire Entities. The Caruso Plaintiffs netted at least $1 million from the embezzlement scheme.” The alleged conspiracy involved inflating product prices and keeping excess cash by Caruso and Mitchell Green, Sire’s former director of brand management.

In a separate federal lawsuit, Green was ordered to pay $6.2 million in damages and legal fees for his involvement, as reported by The New York Post. Following this, 50 Cent’s Sire Spirits initiated legal action against Caruso, Gina (Caruso’s wife), Julious Grant, owners of Jim Beam (Grant’s employer), and others for unspecified damages. Caruso’s counterclaim is based on his assertion that 50 Cent owes him around $3 million for his work and a 10 percent share of their profits, allegedly agreed upon verbally.

See also  Soulja Boy Urges Blueface's Release From Jail for Face-off, Not Foe Approval

Court documents from 50 Cent’s side dispute the existence of such promises, claiming, “No such promise was made by any of the Sire Defendants.” A representative of Caruso maintains that the lawsuit is an attempt to undervalue his contributions to 50 Cent’s company, vehemently denying any wrongdoing.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2024