Iconic rapper, 50 Cent’s former employee has pleaded guilty to ripping the champagne and Cognac brand owned by the celebrity for a whopping $2.2 million.
It turns out that the hefty price tags, exceeding $200 per bottle, were not solely due to superior quality, a report by NJ News stated.
According to reports, the cost of the cognac inflated because of a dubious scheme involving Mitchell Green, a former director of brand management for Sire Spirits, the company founded by Curtis “50 Cent” Jackson.
Green, residing recently pleaded in federal court to orchestrating a fraudulent scheme worth $2.19 million, according to U.S. Attorney Philip R. Sellinger.
Green’s modus operandi involved sneaky negotiations with two French distilleries, where he secured funds for himself through his company, Q Branch LLC, for each bottle of champagne and cognac purchased by his employer.
He covered his tracks by inflating the per-bottle prices charged by the distilleries. This scheme led Sire Spirits to pay a staggering $14.8 million for the champagne and cognac, with Green pocketing a hefty $2.19 million from the French distilleries.
Facing severe consequences, Green could be sentenced to a maximum of 20 years in prison and fined an amount determined by various factors, including twice the gross profits or losses incurred by the victims. Sentencing is slated for January 23, 2024.
In the words of FBI-Newark Special Agent in Charge James E. Dennehy, Green’s case serves as a stark reminder that ill-gotten gains often lead to severe repercussions, and the FBI remains dedicated to ensuring that the penalties for such fraud far outweigh the initial gains.
Curtis James Jackson III, professionally known as 50 Cent, is a multi-talented American figure—a rapper, actor, TV producer, and entrepreneur. His music career took off in 2000, amassing over 30 million song sales.
Beyond music, he’s built a diverse empire. In 2003, he launched G-Unit Records, capitalizing on his music success. He also struck a deal with Reebok for G-Unit Sneakers.
In 2007, he ventured into book publishing with G-Unit Books. In film, he founded 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.”
