Take It Out Your Pocket & Show It: Lil Wayne Is Suing His Former Lawyer For $20 Million
Lil Wayne Is Suing His Ex-Lawyer For Allegedly Cheating Him Out Of Money
Lil Wayne is suing his former attorney, Ronald Sweeney, for allegedly swindling him out of $20 million while he represented the musician, according to reports from TMZ.
Sweeney acted as the rapper’s lawyer from 2005 all the way through September of 2018 and charged him 10 percent for every deal he closed–which Wayne argues is well beyond the industry standard of 5 percent. But in addition to charging Wayne for his services, Sweeney allegedly tried to squeeze more money out of the deal by seeking an additional 10 percent for all profits netted by his Young Money label. Luckily for Wayne, he prevented that from actually happening.
Beyond that, the lawyer managed to pull even more money out of Wayne’s pockets by enlisting the help of another law firm for the ongoing legal battles with Birdman and Cash Money Records along with Universal Music Group. Said firm allegedly took a whopping 23 percent from the settlement with Cash Money, and 15 percent from the latter settlement. Those percentages were added onto the 10 percent Sweeney was already expected to receive. Definitely seems like a a lot of money being moved around.
Initial reports regarding Wayne’s resolution with his label indicated that Universal cut a check for “well over $10 million,” but that amount has never actually been confirmed. “A portion of the information released today is true, a settlement has been reached, but the dollar amount being disclosed is false,” Karen Civil wrote in response to reports of the settlement.
“Per our settlement agreement, the matter has been amicably resolved to the satisfaction of all parties,” Sweeney commented at the time. “In terms of the particulars, we’re prohibited legally from saying anything further. I can say that my client is happy. He is his own man, a man that owns his assets, his music and himself. At some point, Wayne will let his fans know what’s going to happen next.”
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