JAY Z SUBPOENAED FOR FRAUD

May 3, 2018

NBC reports:
SEC seeks court order to force Jay-Z's testimony in Rocawear probe

A representative for Jay-Z said, "Mr. Carter is a private citizen who should not be involved in this matter."

Wall Street's chief regulator, the Securities and Exchange Commission, said on Thursday it would seek a court order asking Shawn Carter — also known as the rapper/mogul Jay-Z — to testify as part of a probe of Iconix Brand Group.

Federal regulators are investigating Iconix, a company that licenses apparel brands to national retailers, for potential violations of securities laws related to financial reporting, according to an SEC release.

Iconix acquired the rapper's Rocawear clothing label for more than $200 million in 2007.

In its release, the SEC said Jay-Z failed to appear after two subpoenas seeking his testimony about "among other things, Carter's joint ventures with Iconix." The agency did not provide additional information about why it wanted Jay-Z to testify.

A representative for the rapper said in an email to NBC News, "We are aware that the SEC is seeking information on Iconix's financial reporting."

 

 

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