Young Jeezy Sued By Kinky B For $5 Million

Posted by IV on August 23, 2012 // 5 Comments

( 4UMF NEWS ) Young Jeezy Sued By Kinky B For $5 Million:

A business partner is suing Atlanta rapper Young Jeezy and Def Jam Recordings, claiming the artist and prominent record label have failed to share millions of dollars in profits from hits he helped Jeezy produce and promote.

In a lawsuit filed recently in Fulton County Superior Court, Demetrius Ellerbee said he and Jeezy, whose real name is Jay Wayne Jenkins, founded Atlanta-based CTE Music in 2001 as equal partners and later signed with Def Jam to distribute the rising rap artist‘s music.

But despite the success of CTE, also known as Corporate Thugz Entertainment, Ellerbee has seen little of the millions of dollars in Def Jam advances and royalties paid to the company, according to Ellerbee’s Atlanta attorney, Mario Breedlove.

Breedlove, who said Jeezy intentionally “misappropriated” company funds and redirected them into his personal accounts, said Ellerbee is owed at least $5 million, but the figure is much higher when royalties and interest are figured. He said he is still awaiting an accounting of all Def Jam payments to CTE Music to find out the exact amount his client is owed.

Efforts were being made Tuesday to get comment from Jeezy’s Atlanta attorney Donald Woodard and attorneys for Def Jam.

“They were partners,” Breedlove told The Atlanta Journal-Constitution on Tuesday. “They started the company together. They grew the company together. And he’s entitled to one-half.”

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