Akon is accusing his ex-business partner of trying to freeze his assets “out of spite.”
Last month, music exec Devyne Stephens asked a judge to halt the Grammy-nominated artists’ New York assets as he pursues a $4 million lawsuit against Akon, accusing the star of owing him money from a previous contractual obligation. In his court documents, Stephens painted Akon as a dishonest businessman. He even claimed that the “Locked Up” musician’s plans to build a futuristic crypto-based city in Senegal is a Ponzi scheme.
In an affidavit filed on March 7th, former Federal Special Agent Scot Thomasson said that “The Akon City” and “Akoin” ventures have several red flags reminiscent of Ponzi and pyramid schemes. According to his expertise, he believes the endeavors are “part of a fraudulent money-raising scheme.”
However, the 48-year-old did not take these allegations lightly. On Monday, he fired back, calling Stephens’ claims and requests to freeze his assets a retaliatory move. Akon says the detrimental allegations have damaged his reputation and arrive at a time when he is embarking on some of the “most consequential and ambitious projects of his entrepreneurial career.”
Akon is now asking a judge to reject Stephens’ request to freeze his assets.
