Swizz Beatz Caught Up In $42 Million Racketeering Suit

Today in Tha Wire, super producer Swizz Beatz is being named as a defendant in a major racketeering scheme. According to the New York Post (NYP), the Hip Hop mogul is being accused of helping his friend, Macky Dancy, owner of the Dancy Auto Group, to lease luxury cars, then double-book the rides to other drivers to turn a profit.

Metro Gem Leasing and Funding Corp. reportedly filed a $42 million civil racketeering suit in a Brooklyn federal court yesterday (Wednesday September 21.) In the suit, the auto company claims they thought they were leasing the cars to Beatz "for use for him and his wife Alicia Keys.” However, the music legend was allegedly re-leasing the luxury whips with his boy, Dancy, to third party drivers and marking up the rates. Peep the video below for more details.

Those pricey cars included a Bentley Continental, a Ferrari F12 and about 8 other vehicles between 2013-2016. Reps for Beatz, whose real name is Kasseem Dean, say the luxury dealer is barking up the wrong tree. They stated the music pioneer and his affiliates “are innocent pawns in a years-long, multi-million dollar dispute.” So did Dancy use Beatz name in this? Was Swizz cashing in or what? I'm not sure what happened, but one thing's for sure: it'll all come out eventually.

In the suit, Metro Gem claims they were leasing the cars to Beatz for roughly $7K a month and over the course of 3-years, he and Dancy’s dealership re-leased them at a hefty markups. In addition, they say Dancy even re-sold the Ferrari F12, knowing it wasn't his to sell.

The NYP reports they reached out to Dancy's Auto Group to get his side of the story, but spoke to a woman instead. She reportedly said the dealership was renamed, and was no longer affiliated with Dancy.

Wow! I'll keep you posted on this one. In the meantime, for all things entertainment, tune into Tha Wire every weekday at 12:50 p.m. and 3:50 p.m. only on The Peoples Station 107 Jamz.