Jay Jenkins aka Young Jeezy has some s’planin to do according to his former bff Demetrius “Kinky B” Ellerbee.
Ellerbee, who appeared alongside Jeezy in his Hustlerz Ambition documentary,? filed a lawsuit in Fulton County Superior Court last week claiming that Jeezy cheated him out of royalties and other monies he was due during their business relationship.
The complaint states that Jeezy, who was recently named Senior VP or A&R of Atlantic Records,? ?intentionally misappropriated, diverted and/or converted funds? intended for CTE, asking Def Jam to send royalties and distributions directly to him.
As proof, Ellerbee notes in legal documents that prior to the release of Jeezy’s second album, ?The Inspiration,? his former BFF Jenkins cheated him out of his portion of a $1 million advance by having it transferred directly to his personal account.
Messy!
Additional details regarding the lawsuit + watch the Hustlerz Ambition Documentary below…Ellerbee claims in legal documents that he and Jeezy agreed to be equal partners in the music industry several years ago.
Jeezy and Ellerbee both appear in the Hustlerz Ambition documentary released last year, which details Jeezy’s rise to hip-hop fame.
VIDEO: Hustlerz Ambition Documentary (FULL)
The two “became best friends” in youth boot camp in 1995, when Jenkins was 17, and they created Young Gunz Entertainment together a few years later, according to the complaint.
Ellerbee says he was CEO of Young Gunz, and he and Jenkins tried to sign artists to the label, but the venture fell apart around 2002.
He claims he and Jenkins formed another business, Corporate Thugz Entertainment aka CTE Music, in 2001, and continued to try to sign new rappers.
CTE began focusing on Jenkins’ solo career, and he gained national exposure after CTE released two mixtapes, according to the complaint.
“In response to defendant Jenkins’ recent notoriety as a solo artist, major music recording labels began showing interest in signing defendant CTE and defendant Jenkins to a production and/or recording agreement,” the complaint states.
Courted by Atlantic, Warner Bros. and Def Jam, “plaintiff and defendant Jenkins finalized and executed, on behalf of defendant CTE,” a six-album contract with Def Jam, according to the complaint.
Def Jam, defendant, released Jeezy’s album “Let’s Get It: Thug Motivation 101” in 2005, which sold more than 2 million copies. Ellerbee, as Kinky B, was listed as an executive producer, according to the complaint.
Ellerbee claims CTE has produced and released three more albums, on all of which he was executive producers. But since Jeezy’s launch to stardom, Ellerbee says, Jenkins has “intentionally misappropriated, diverted and/or converted funds” meant for CTE.
On one occasion, Jenkins had a $1 million advance transferred into his personal account, and asked Def Jam to send royalties and distributions directly to him, according to the complaint.
Ellerbee claims Jenkins, Def Jam, CTE, and Universal Music Group owe him at least $5 million.
He seeks declaratory judgment stating that he is an equal owner of CTE and is entitled to half of all royalties, advances, and distributions.
He also seeks an accounting and damages and punitive damages for breach of contract, conversion, fraudulent misrepresentation, RICO violations, and unjust enrichment.
Mario Breedlove, Ellerbee’s attorney issued the following statement on behalf of his client to ABCNews:
?We believe the facts of the lawsuit speak for themselves, and Mr. Ellerbee is hopeful that this matter can be resolved among the parties swiftly and amicably.?
Jeezy’s attorney did not return a request from ABC News seeking comment, and neither did Universal Music Group, which owns Def Jam.
Ellerbee is listed as the executive producer of many of Jenkins? albums, for which he ?oversaw and managed ? production,? including ?negotiating and executing producer agreements and communicating directly with defendant Def Jam regarding album promotions and deadlines,? according to the court filing.
These two were really close friends and it’s sad how money can come between lifelong friendships.
