Lil Wayne Can't Pay His Bills?

Jun 10 | by Natasha

In a press release sent to my inbox today, we've found out that your favorite rapper is defaulting on his Bentley payments. Silicon Valley Investor Lé Marck dé André and his Silicon Valley Law Firm have filed suit against Lil' Wayne (gov't name: Dwayne M.Carter, Jr.), Cash Money Records, and Young Money Entertainment in a California Superior Court for non-payment on a 1999 Bentley Arnage. The self-professed, "Greatest Rapper Alive," is currently being sued for $123,800 plus a $200 per day fee for failure to make restitution to dé André's company. According to dé André, Lil' Wayne paid him $78,507 in August of 2006, ten months after the initial payment was due. Since the payment was received late, Wayne breached the initial customization agreement, prompting dé André to terminate the contract immediately and take legal action against his client. In his first-ever publicly released statement, dé André said,

My direct observation and experience with Dwayne M. Carter's financial and personal irresponsibility over the years has taught and demonstrated to me that he has become the "new symbol of financial illiteracy and slavery in/of the 21st century" and this is unequivocally not fiction nor is it a misunderstanding. For a little over 5 years, I have been involved with the consistent and perpetual business behavioral illustrations of Dwayne M. Carter's high-level of financial illiteracy, lack of liquidity, leveraged acquisition liability accumulation and below zero net-worth; as well as lack of business communication, character, and integrity- all learned behaviors- and the primary reasons for non-payment. My prognostication is unless and until Dwayne M. Carter transforms his personal, business, and financial attitude and adopt new behaviors, these unfortunate behavioral components will equate to future lawsuits, defaults, repossessions, foreclosures, and the making of a great candidate for bankruptcy.

Hmmm. I will say that YBF has tried to contact said Silicon Valley Law Firm to validate this story, but a suspicious answering machine picked up and there was no answer. But y'all know I'm staying on it...

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[quote comment="112080"]As an

[quote comment="112080"]As an attorney of color I just want to say... These dudes need to start consulting and actually listening to people who will be able to advise them through the lens of cultural understanding. Whoever handles this dudes money obviously doesn't get that Lil Wayne came from absolutely nada in the projects to having more money than anybody in his family or anyone that he had ever known. Someone who was just struggling for food w/ minimal education and even more limited financial education who now has millions of dollars, doesn't understand the concept of the money. All they know is now they can eat anything they want and buy anything they want... There is more to advising and guiding that type of artist than making sure they get there paper. As a people financial advisors and attorneys of color have a higher duty to make sure our people can maintain their money for their future generations. I mean damn that's how our counterparts do it. It's called wealth management! I have never seen ANY white celebrity or person for that matter "making it rain" in any club yet these black men that have known hunger known what it is to live in poverty make some money and literally throw money in the air... Uggghhh it's an epidemic... OK I'm done ranting in closing... Remember what the GZA said DIVERSIFY B*t%ches![/quote] I like how you got "hood" at the end, lol.

by Camdon
4:47 pm - Jun 10, '08

[quote comment="112001"]This

[quote comment="112001"]This sounds so fishy- first off the firm name sound like a gay man hair salon. Not, only that the man's statement was off when he said Wayne was "financially illiterate and enslaved"-like why use the word "slavery" to define his money handling? Many people misuses large amounts of money,everyday. This just sounds like a gay lover that handled Wayne's b.i. is scorn. The statement just does not sound professional...?[/quote] Thank you. I thought I was the only one that picked up on that ish. especially the line that says this ia "learned behavior". This statement sounds very fishy.

by sweet
6:31 pm - Jun 10, '08

not surprised at all. And I

not surprised at all. And I don't think he is a candidate for getting his ish together either. he's having way too much fun to be responsible with his life let alone his money.