Lil Wayne
The $10,000,000 Miami mansion owned by Young Money rapper and
drug addict, Lil Wayne, real name Dwayne Carter, was just raided
by police. The authorities are in the process of seizing
everything they can in the house, to satisfy a $2,000,000 court
judgment against the rapper, resulting from a lawsuit brought by
private jet company Signature Group in Miami. Lil Wayne leased a
jet from the company he instructed them to customize to his
specifications, but then failed to make any payments for over a
year. This resulted in a lawsuit Wayne lost. Wayne has also
failed to pay his layer $200,000 in legal fees for representing
him in the case he lost.
Lil Wayne and fellow thief Birdman
Police deputies arrived at the property on La Gorce island,
but were denied entry by Wayne's security guard. The police
utilized the court order in their possession to raid the mansion
and seize Wayne's assets which will be given to Signature Group
to help satisfy the court judgment. The company will likely hold
an auction to liquidate the seized assets, while select items
will be sold to private companies who specializes in such
purchases.
Lil Wayne could have filed bankruptcy, which would have
granted him protection for at least 6-months and given him the
ability to rearrange his debts and repay creditors under a plan.
Some debts could have also been wiped out. However, he was too
busy partying at a strip club in Los Angeles and Miami sheriffs
raided his property.
Lil Wayne, a prodigious copyright thief, also owes the city
of Miami over $200,000 in unpaid taxes, as previously reported
on the site. The city is allowed to foreclosure on the home
after 2-years of tax non-payment. The contemporary mansion still
has a mortgage on it. Wayne has been making payments on the home
for the past 4-years and in that time, there has been an uptick
in home prices in Miami. However, Wayne did overpay for the
mansion when it was purchased. Therefore, there may not be much
equity in it.
At the end of the day, Wayne was living a lifestyle he is not
financially entitled to in any measure. Wayne is a prodigious
copyright thief, who has been sued by veteran musicians, as well
as newer songwriters and producers, for willfully stealing their
copyrighted work, for undue financial gain. Wayne is also not
paying his Young Money artists their correct royalties. They
have sold millions of singles and albums and have not been paid
even 20% of what they are owed under existing contracts. Their
artists are struggling to buy homes and cars, opting to lease to
keep up appearances.
Young Money's parent company, Cash Money, is even worse,
ripping off artists, songwriters, producers and musicians, to
the tune of millions, to allow its owner Brian Williams
("Birdman") to live in absolute luxury. Any way you slice it,
this type of unethical behavior from Young Money and Cash Money
constitutes copyright infringement (thefts of copyrights), fraud
and grand theft larceny. Once again, Hollywood is an industry of
thieves. If Congress properly regulated Hollywood, these
disgraceful financial crimes would not be happening and damaging
so many people.
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