It seems that even a rapper as rich and legitimized as Jay Z can get into an issue with the court, though when Jay does it, it’s over a $200 million deal instead of a drug charge.
According to Time, Jay Z has been subpoenaed by the Securities and Exchange Commission (SEC) in order to obtain testimony from him regarding a business deal he made back in 2007. Iconix Brand Group Inc., which sells brands such as Joe Boxer and Candie’s, purchased $200 millon worth of assets from Rocawear, but came under investigation from the SEC after writing down Rocawear’s value at $169 million in March 2016, and another $34 million this year.
While Jay isn’t in any serious legal trouble, the SEC still issued the subpoena because he was refusing to provide testimony on the matter. This isn’t even the first time he was subpoenaed over this, having been hit with the first one in November of last year, and after obtaining new council, didn’t appear in court as required, and has not given any additional dates that he’d agree to testify.
“We are aware that the SEC is seeking information on Iconix’s financial reporting,” a spokesperson for Jay said in a statement. “Mr. Carter had no role in that reporting or Iconix’ s other actions as a public company. Mr. Carter is a private citizen who should not be involved in this matter.”
Jay doesn’t have time to be dealing with pesky court dates, between dealing with different legal issues and undertaking a massive tour with his wife, Beyonce.