Now the Weavers are being accused of hiding a $20 million loan they received from rapper Jay Z...
From The Spirit Business
Kentucky lender Farm Credit Mid-America (FCMA) has accused Uncle Nearest of fraud, alleging that the Tennessee whiskey maker hid a US$20 million loan given to the brand by media mogul Jay-Z.
The accusation is included in the latest filings of a legal battle between the lender and the whiskey brand. The lawsuit began in July 2025 when FCMA claimed Uncle Nearest owed more than US$108m across several loans and accrued interest.
In the suit, the lender claimed the whiskey producer provided “apparently inaccurate” barrel inventory reports that overstated values by US$21m, sold whiskey barrels to pay other obligations, and discounted future revenue streams to at least four parties.
Since then, the court has appointed a receiver for Uncle Nearest, who is now attempting to stabilise the company.
According to the receiver and FCMA, Uncle Nearest is insolvent and owes nearly US$200m; the founders, Fawn and Keith Weaver, dispute this and want to end the receivership.
However, in February, the receiver listed the business’ property on the Massachusetts island of Martha’s Vineyard for sale.
The property was mentioned in the original lawsuit by FCMA. The lender claimed Uncle Nearest borrowed US$2.3m for the property, which was allegedly purchased through a separate LLC and later mortgaged to another lender, in violation of the loan agreements.
In October, it was reported that the receiver was also investigating the possibility of selling other non-income-producing assets owned by Uncle Nearest, including its vineyard in Cognac.
The bank said it supports not only continuing the receivership but expanding it to include seven Weaver-owned companies that commingled assets with Uncle Nearest, including the disputed $20m transaction said to have come from rapper Jay-Z.
FCMA’s new filings claim the Weavers have “egregiously mischaracterised” the disputed US$20m transaction and how much the bank knew about the details.
According to FCMA, Fawn Weaver told the lender the US$20m was a loan from Grant Sidney, one of the Weavers’ companies. In fact, it came from an outside source, MP-Tenn LLC – sometimes referred to as MarcyPen – a venture capital firm formed in late 2024 and owned by Jay-Z, Jay Brown, Larry Marcus, Robbie Robinson, and D’Rita Robinson.
9 comments:
A $20 million loan from Jay-Z? This makes me think that Beyoncé‘s whiskey is just rebottled and rebranded Uncle Nearest!
^^^
Wow, I had the same thought! Isn't her whiskey brand about some uncle, too? The timing of it all is no coincidence as the Weavers anticipated litigation. Oh my!
^Great point. Why invest in a company that's in direct competition with your wife's business? Makes no sense. And why must Black businesses fail so spectacularly? They haven't even seen a solid decade of success. So much for maintaining a legacy.
Not her uncle, but great grandpappy I guess in that way Jay-Z sees some payback on that loan. Either way the Weavers seem very greedy because they should have disclosed the funding. Now they're going to lose it all.
@1:52 Your partially correct
Something Jay & Bey have in common
"Stealing" or Borrowing Brillant Ideas from talented people in search of Fame.
Jay saw Uncle Nearest Award winning success which was tied to a Black History Story (Uncle Nearest taught Jack Daniels his secret recipe that in turn made Jack Daniel's a million dollar success.
Mixing a historical background with a Brand , - thus - Beyonce and her great grandfather " Sir Davis " a historical black moonshiner was created.
Unfortunately the Whiskey experts in the Industry said they found no legendary black moonshiner named "Sir Davis"
in Beyoncé's family. Busted. !
Sales in Sir Davis tanked as word spread the brand had a made up story line tied to a Celebrity name to sell the Whiskey.
Fun fact Sir Davis is $50 dollars more per bottle than Hennessy.
Fawn scamming arse is MAGA and that should tell you everything you need to know.
Plus she has no relation whatsoever to Nearest Green.
@4:39 She has never claimed to , NEVER, she discoverd the HIDDEN HISTORY and I formed the descents of Uncle Nearest
The she worked the family to establish & reclaim their heritage and BRAND
The family were in her docu- series
and commercials & have a huge part in ownership AND branding
I was rooting for the Uncle Nearest brand, however, ever since we saw how grimy Fawn treated her former classmate I have have given her the side eye.
*corrected copy
4:39 She has never claimed to , NEVER, she discoverd the HIDDEN HISTORY and *informed the descents of Uncle Nearest
The she worked *with the family to establish & reclaim their heritage and BRAND
The family were in her docu- series
and commercials & have a huge part in ownership AND branding
5:30 PM
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