Baller Alert Its A Lifestyle
Last year, Kanye West’s $75 million bank account for his brand Yeezy was frozen as a result of a legal battle that Adidas secretly won.
Adidas filed the lawsuit last November following Ye’s anti-semitic comments and his termination from the company.
Due to the ex-parte nature of the ruling, Kanye was not given the chance to reply to the filing.
Although the lawsuit was unknown to the public, Ye confirmed the news last year.
“The reason why I’m announcing that I’m running for president is I want the FCC to look at my money,” Ye said last November. “If they actually see, I was looking at my money, and there might have been a possibility that Adidas wouldn’t have went into JP Morgan and froze my account and put a $75 million hold on four different accounts.”
He added, “I went from being a multi-billionaire to not even being able to use my Apple Pay four nights ago. I couldn’t use my Apple Pay because somehow Adidas was able to legally go in and freeze my money, and when I see this, I think, well, if this could happen to me, this could happen to other Americans, and for what? You know this can happen to an American that didn’t even steal anything, that didn’t even hurt anyone. This could just happen to you for saying the wrong idea out loud.”
While both parties attempted to reach an agreement in private arbitration, Adidas took legal action to prevent Kanye from moving funds.
“Petitioner has demonstrated that it has satisfied the grounds for an ex parte attachment because the court is satisfied that there is risk that Yeezy will remove or dissipate assets if notice of this request for attachment is given to Yeezy,” Judge Valerie E. Caproni wrote in the order.
Earlier this month, Caproni decided to unseal the documents, stating that they were no longer required to remain sealed since Kanye made the ruling public.
According to reports, Ye is currently pursuing an appeal of the decision.
