Man Pleads Guilty to Defrauding Rapper 50 Cent’s Alcohol Company, Making Over $2 Million from Scheme
(Photo: mpi04/MediaPunch /IPX)
On Monday, Mitchell Green pleaded guilty to one count of wire fraud in New Jersey. Green reportedly made around $2.2 million by defrauding music maker, 50 Cent’s alcohol company. The scheme involved making rapper 50 Cent’s company Sire Spirits overpay for Champagne and Cognac while collecting kickbacks.
The 44-year-old worked for 50 Cent’s company from June 2017 to February 2020. During this time Green created side agreements with two French distilleries and was paid through his company, Q Branch LLC. The scheme involved him hiding the per-bottle price that the distilleries charged in order to force his employer to purchase the alcoholic beverage at an inflated price and unknowingly pay the cost of Green’s kickbacks.
Over time, Sire Spirits paid $14.8 million for Champagne and Cognac while Green was able to collect millions worth of hidden kickbacks. He admitted to embezzling the company after someone blackmailed him by threatening to reveal his scheme unless he paid up.
This isn’t Green’s first run-in with the courts. Prior to entering a guilty plea, 50 Cent’s company won a lawsuit ruling that Green must pay a $6.2 million arbitration award. After suffering multiple losses in court, he reportedly filed for bankruptcy at which point 50 Cent went to social media to taunt him.
Wire fraud can result in imprisonment for 20 years, fines, or both. 50 Cent may have a hard time receiving his money with Green bankrupt and facing sentencing from the court after entering a guilty plea.
Read Next:
Bottle Battle: Lawsuit Between Rapper 50 Cent and Rémy Martin Over Cognac Brands Reaches Settlement
Jay-Z and Bacardi Reach Deal After Legal Battle Over Multibillion-Dollar Cognac Brand
Van Halen Frontman Revamps Sammy’s Beach Bar Kola Spiced Rum With New Recipe and Packaging
Follow The Daily Pour:
