Lil Wayne owes more than $1 Million to Signature Group for jet-setting lifestyle
According to a press release to media, Signature Group LLC, of Miami, Florida, has filed a lawsuit for more than a million dollars against popular rapper, entrepreneur and budding sports management agent, Dwayne Michael Carter Jr., better known as Lil Wayne. The complaint states that Young Money Entertainment LLC and Dwayne Carter, president of Young Money Entertainment, owe more than $1 million in missed payments, fees and charges for leasing a Gulfstream private jet operated by Signature Group.
According to the complaint filed by Mrachek, Fitzgerald, Rose, Konopka, Thomas & Weiss P.A., on behalf of Signature Group, Young Money Entertainment and Lil Wayne have not paid their bills under their current lease agreement or otherwise for the greater part of 2014.
The complaint shows how Carter and his entourage used the aircraft throughout 2013 and 2014 for domestic and international flights for the purposes of business, including a European tour, and leisure, and in 2014 Young Money Entertainment, guided by manager, Cortez Bryant, and at the direction of their new business manager, started missing payments under the lease agreement and failed to pay in full the operating expenses relating to flights on the aircraft.
Lil Wayne and his management team requested several costly custom improvements to the aircraft to accommodate his unique lifestyle preferences consisting of satellite telephones, a custom bed and sophisticated medical equipment.
Right now, Dwayne Carter and Young Money Entertainment owe Signature Group more than $1,066,751.67 for fees and late charges under the lease agreement and the amount continues to increase until payment is remitted.
“We provided Lil Wayne and his Young Money organization with the service they desired and expected since 2006. We’ve mutually benefited from our longstanding working relationship and have had the pleasure of flying several artists under the Young Money Entertainment umbrella,” stated Kevin Parrott, owner of Signature Group LLC. “This suit could have been avoided if Young Money Entertainment paid Signature Group, as promised, before the upcoming 2014 Drake vs. Lil Wayne tour.
“We have multiple text messages from his management team, to Mr. Parrott, stating that they have ‘no money’ to pay the bills currently, contrary to the earlier and repeated promises to pay,” said attorney Scott Konopka, who represents Signature Group.
Signature Group has repeatedly attempted to communicate with Young Money Entertainment, by phone, in writing and even text message, but Young Money Entertainment will not communicate and that has necessitated this lawsuit.
Signature Group is seeking a trial by jury and damages against Young Money Entertainment and Carter, as well as interest and attorney’s fees.