Kanye West continues to mount legal troubles including a former business manager suing Ye for over $4 million.
Kanye West Faces More Legal Trouble
MEGA
According to legal documents, obtained by The Blast, a celebrity business and account manager named Thomas St. John filed a lawsuit against the rapper and the designer claiming he stopped paying the monthly fees agreed upon by both parties. Of course, St. John claims Kanye became mean and “aggressive” to him during a recent meeting and has stopped paying his bills.
In the filing, St. John said he was approached by Kanye earlier this year to provide business management, accounting and taxation services. By March 30, 2022, Thomas St. John, TSJ’s Chief Executive Officer (“CEO”) “has been introduced to Yeezy’s business partner as ‘Ye’s business manager,’” it reads.
Adding, “Mr. St. John has already developed a business strategy for Yeezy negotiations with one of the main business partners (Kanye). By April 12, 2022, the representative of Mr. West introduced Mr. St. John to a business partner as “CFO of Donda”, another entity Mr. West.”
Company Will Receive All West Financial Records
The company said it had sent a letter allowing them to receive all of Kanye’s financial records and begin working on a strategy for him going forward.
At that time, St. John said he was adamant with Yeezy that he wanted a two-year guarantee to start working for him. Obviously, a job like this requires extreme time and effort, along with several other workers to execute. It should be noted, the company indicated that it had to turn down two other opportunities to work for Yeezy.
“In addition to the economic costs and risks associated with committing to the Defendant as a customer, the Plaintiff also needs assurances that the Defendant will not simply abandon the business relationship. Mr. St. John, however, proposed to compromise the agreement with a minimum term of 18 months,” the lawsuit says. Ultimately, the company claims Kanye agreed to the 18 months.
An agreement was signed and the company was “retained to act as Kanye’s “most senior financial advisor” and as Chief Financial Officer. The contract includes a “monthly retainer fee of $300,000.”
Unfortunately, just like his recent business dealings with Kanye West, he allegedly held a meeting just weeks after signing the deal to discuss dropping the company.
“At this meeting, Mr. West became heated and aggressive. He yelled at Mr. St. John and explained that he no longer wanted to work with (St. John.) When confronted with the newly made 18-month commitment, Mr. West uttered words to the effect of “The 18-month term is good–t” and “You don’t sane for thinking I would hold on to him.”
Kanye Fails to Pay Contract Balance
After the meeting, the company said Kanye failed to pay the balance of his contract which included the next 15 months’ payments. The rapper only paid for 3 months, according to St. John.
“As of the filing of this Complaint, the Defendant has failed to breach the agreement and refused, despite being demanded by the Plaintiff, to pay the minimum monthly payment of $300,000 for July, August and September 2022, despite receiving timely invoices. And it is clear from their statements and conduct that the Defendants do not intend to make any further monthly payments,” the lawsuit said.
Adding, “As a direct and proximate result of Kanye’s breach, (the company) was defaulted in the amount of outstanding unpaid fees of $900,000 as of October 12, 2022. It will continue to be defaulted in the additional amount of $3,600,000 for fees owed from October 2022 through November 2023, through the remaining minimum period of 18 months of the Agreement.”
In total, the company is suing Kanye West for damages totaling $4,500,000.
As you know, Kanye West has made headlines in the past few days after attacking Jews in several interviews. Several celebrities and news outlets have called him out for his Anti-Semitic comments. The rapper has lost his partnerships with Adidas, Gap, and several other multi-million dollar companies. Overall, West’s reported net worth has been cut in half.
Kanye has yet to comment on the situation with St. John, but we’re guessing he will.
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Source: thtrangdai.edu.vn/en/
