Tuesday, May 08, 2018

Jay Z Accuses SEC of Celebrity Witch Hunt


Last week The U.S. Securities and Exchange Commission accused Jay Z of refusing to cooperate with an investigation into the company that bought Roc-a-Wear [click here if you missed that].

Jay Z responds to the accusations...

From Bloomberg
Lawyers for Jay-Z are accusing the U.S. Securities and Exchange Commission of engaging in a “celebrity hunt” by trying to compel the hip-hop mogul to testify in the agency’s probe of a firm he did business with more than a decade ago.
Jay-Z, whose given name is Shawn Carter, was willing to testify for a full day, but not “day-to-day until completed” as the SEC is seeking, his attorneys wrote in a court filing dated Monday. The lawyers cited Jay-Z’s concern that the agency’s request “is driven more by governmental fascination with celebrity and headlines than by any proper investigative purpose.”

28 comments:

Chrissy Snow said...

Is this fool really trying to claim his celebrity status as a reason to go up against the SEC? I'm surprised he didn't claim race as an issue.
He isn't even in trouble with them...yet. This is the one time to comply.

Anonymous said...

Jay stop talking because the government is not like these rappers. They CAN take you down. Ask the Mobb and you're nowhere as big or bad as they were.

TAXES CAN SEND YOU TO JAIL

E-STROKES said...

JZ really stupid. These alphabet agenciescan't e backed down. Now this just makes them more determined to question him. Now they jut gonna start digging more and by the time he goes in they gonna bury his ass.

SEC took down Martha Stewart and others. He must be scared as hell.

Anonymous said...

He's going down.

Never forget that lie he told, "numbers don't lie". Oh yes they do, especially when you're cooking the books.

Anonymous said...

If it's a witch hunt just meet with the SEC and let them see you have nothing to hide and get it over with.

Anonymous said...

You know reading is fundamental. He is not saying that he will not comply with the questioning he is saying that he is not going to be part of their ongoing investigation which probably includes days upon days of questioning he is only willing to do one full day and that is fair. Let us not be foolish to think that these Government organizations don't have underlying motives. They want him to testify about his relationship to the Iconic Brand group. So all in all he will have to comply but by no means is it necessary for him to be an integral part in the take down of a company he no longer has ties to IJS.

Anonymous said...

The older he gets, the uglier he gets

Niyabinghi/ObeahWomanWarrior said...

The SEC don't give a shit about your celebrity status, just ask Martha Stewart and various mob bosses. Boy bye, yo ass would have been better off claiming racism than celebrity, now while I don't agree with days upon days of questioning, WTF is that all about. A full day of questioning should suffice, sounds like they might be trying to implicate him in a company he no longer has anything to do with.

I can think of a few dozen congress and senate members as well as bankers they need to be investigating into ties with big oil, big pharma, China, Iran, Russia and many others. But it is what it is, all this lawyering up is just eating up money, he just might want to go ahead and do Jeff Keebler Elf Session, I don't recall asshole.

TheBarberLady said...

He is not under investigation, though. They are investigating a company that bought one of his companies almost a decade ago and not since then. He should not have to be their star witness, on call like a damn Dr.

Anonymous said...

Uh Oh, Jay's really nervous about the SEC but he is making it worse by using "celebrity status". Now that's laughable, no one in the real world cares about celebrities. Jay knows if it goes for more than a day, he will be drilled about his business dealings and he doesn't want that to happen. Whoever is ill advising him should be fired because he looks like an idiot no. Jeez

Too bad he jumped on the Killary train because his fellow New Yorker Trump might of softened the outcome for him - not now. Man up, go in (he really has no choice) and answer the questions. Get a new advisor ...

Anonymous said...

^^lol White pointy head robe wearing Chump wouldn't help this NIGGER!

Anonymous said...

@1:31 lol and he had the nerve to say how can you be an ugly billionaire...he's a fool twice cause he's not a billionaire and he is ugly. This is the best the hottest chick in the game could do?

Tippie Toes said...

No Jay its not your celebrity status they are intrigued by

Anonymous said...

Lets see him make his uzi go pop while he runs from the police per his LATEST trash song

Anonymous said...

SEC will not be charging this nigga.

Anonymous said...

So they ARE on the run lol. Giggles.

Anonymous said...

@4:18 Politics makes strange bed fellows - wake up.

Allihave2say said...

The issue here is that one of the parties filed false documents with the SEC during the sell of the brand. Either JayZ over inflated his income earned (to make himself look better) or Iconic Brand unstated how much they paid for purchase which affects the stock value of the company and promotes fraud.

The cautionary tale here is under oath can ask JZ about other business interests and spark other investigations as a result.

Anonymous said...

Quit talking dummy and pleade the fifth, which you can do even against the SEC/IRS.

Chrissy Snow said...

^^^Good point I didn't think of that. He's in a tough spot.

Anonymous said...

all this resistance makes him look guilty as hell

Anonymous said...

Wake up that racist bastard is not going to help that nigger. Koonye maybe but Jigga the openly supporting Democrats nigga? Hell no.

Anonymous said...

7:53_ he really is because even if he pleades the 5th, it may make them look into his businesses that he currently owns.

Anonymous said...

National media is pathetic - they have no clue what is going on - just hype! New York papers reporting that Jay's lawyer was there and he and the courts agreed Jay would be in court on May 15th for questioning, for at least a day.

Anonymous said...

Let him not show up so they can issue a warrant, send the police so he can run from po po and let his uzi go pop, what a piece of trash this ‘man, boy ‘ pawn is

Anonymous said...

@ 7:20 thank you for explaining to the folks on this post.

"Iconix paid about $200 million to acquire assets from Jay-Z’s Rocawear apparel brand in 2007. The agency is seeking his testimony after Iconix wrote down the value of Rocawear by $169 million in March 2016 and another $34 million this year, the SEC said."

"Jay-Z had allegedly been paid more than $200 million by the company to acquire assets related to his Rocawear brand. He also maintained publicly disclosed partnerships with Iconix, according to the SEC."

...and it looks like he will be sitting down with the SEC next week.

Anonymous said...

Are they trying to see what figure he didn't pay taxes on? Hmmmm.

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