A former employee of legendary rapper 50 Cent has admitted to stealing $2.2 million worth of the celebrity’s champagne and cognac brands.
According to NJ News, the expensive price tags which frequently reach $200 per bottle were not just the result of greater quality.
Reportedly, a former director of brand management for Sire Spirits, Mitchell Green, stated that the business established by Curtis “50 Cent” Jackson, was involved in a shady plot that led to the cognac’s price increase.
According to U.S. Attorney Philip R. Sellinger, Green recently entered a plea in federal court for conducting a fraud conspiracy for $2.19 million.
In order to get money for himself through his company, Q Branch LLC, for each bottle of champagne and cognac his employer ordered, Green engaged in covert negotiations with two French distilleries.
He hid his actions by increasing the distilleries’ per-bottle costs. Sire Spirits paid a stunning $14.8 million for the champagne and cognac as a result of this plan, while Green made a tidy $2.19 million from the French distilleries.
Green faces significant repercussions, including a possible sentence of 20 years in jail and a fine that is based in part on the gross profits or losses suffered by the victims, who may also be awarded a fine equal to two times that amount. The sentencing date is set for January 23, 2024.
The FBI is committed to making sure that the consequences for such deception much surpass the initial advantages, and Green’s case serves as a clear reminder that ill-gotten gains frequently result in serious ramifications, according to FBI-Newark Special Agent in Charge James E. Dennehy.
American multi-talented individual Curtis James Jackson III, better known by his stage name 50 Cent, is a rapper, actor, TV producer, and businessman. In 2000, his music career took off, selling over 30 million songs.
He has created a broad empire in addition to music. He founded G-Unit Records in 2003, capitalizing on his success in the music industry. He also reached an agreement with Reebok for the G-Unit Sneakers line.
He made his debut in book publishing in 2007 with G-Unit Books. He started the film crew G-Unit Films in 2003 and Cheetah Vision in 2008, specializing in low-budget action thrillers.
Substantial funding in 2010 revitalized G-Unit Films and led to the success of “Power.”