EXCLUSIVE: Fawn Weaver Information Lawsuit Denying $20M Jay-Z Mortgage Cowl-Up In Uncle Nearest
Fawn Weaver’s lawsuit claims Farm Credit score unfold false statements about Uncle Nearest’s funds and the Jay-Z mortgage.
Fawn Weaver simply filed a lawsuit blasting final week’s Uncle Nearest story involving Jay-Z and a hidden $20 million, and he or she’s not backing down from the lender she says is mendacity via its enamel.
The Weavers and their firm, Grant Sidney, are suing Farm Credit score Mid-America for spreading what they name “false and malicious” statements about how the $20 million from Jay-Z‘s Marcy Ventures truly moved.
In keeping with paperwork obtained by AllHipHop, the criticism says each greenback that went via Grant Sidney was correctly documented and went straight to Uncle Nearest, not into the Weavers’ pockets.
Farm Credit score’s been working a story that’s mainly the alternative.
In addition they alleged roughly $21 million in whiskey barrels vanished and that mortgage cash secretly purchased a Martha’s Winery property.
That story fed headlines all over the place.
However Weaver’s authorized staff is saying the receipts inform a unique story.
Financial institution data and intercompany agreements present the transfers had been normal company strikes, not some hidden scheme.
“Grant Sidney acquired no profit from this $20,000,000, and it solely went to the good thing about Uncle Nearest,” her lawyer wrote within the submitting.
The criticism additionally takes direct intention on the lacking barrels declare.
Weaver’s staff says stock and warehouse data show the whiskey by no means disappeared. They’re stressing that Farm Credit score already had entry to these data when it made the lacking barrel declare, so the lender knew higher.
A former Uncle Nearest CFO is getting referred to as out within the lawsuit for what the criticism describes as “important misconduct,” together with misreporting and irregular accounting entries, earlier than that government bought pushed out.
The entire scenario is enjoying out whereas Uncle Nearest sits in federal receivership, a transfer that stripped management from firm management.
Farm Credit score has argued in court docket that Uncle Nearest defaulted on greater than $100 million in loans, overstated barrel stock by tens of thousands and thousands of barrels, bought off collateral barrels to cowl different money owed, and violated key monetary covenants.
A decide appointed a receiver in 2025. The receiver now manages the enterprise whereas collectors line up with whole claims pushing towards $200 million.
Weaver is making an attempt to redraw the entire image, arguing that Farm Credit score’s narrative about fraud, lacking barrels, and that Jay-Z mortgage didn’t simply land her in court docket.
It helped push a fast-rising Black-owned whiskey model into its most fragile second.
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