50 Cent has built his reputation on a prolific rap career, a television empire, and multiple business ventures, all contributing to the significant increase in his net worth in recent years. But, as corporate executives at the beverage company Beam Suntory are about to find out, 50’s true passion lies in bullying his opps on social media. According to 50 Cent, the liquor supplier has embezzled him out of millions of dollars and even tried to muscle his alcohol brand, Sire Spirits, out of business. The rap icon, whose government name is Curtis Jackson, has posted several social media posts updating the public about the alleged embezzlement scheme, revealing that he’s been battling with Beam Suntory privately for over a year. Here’s everything we know about 50 Cent’s Sire Spirits situation, and Beam Suntory lawsuit.
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What Is Sire Spirits?
Sire Spirits, a liquor brand owned by 50 Cent, who also serves as the CEO, initially launched in 2017. The brand’s name comes from 50 Cent’s second son, Sire Jackson. The brand has collaborated with several prolific partners, including NBA teams such as the Orlando Magic and the Minnesota Timberwolves, and NFL teams like the New Orleans Saints. At the end of every 50 Cent Instagram caption, you’ll find tags for Sire, the producer of acclaimed liquors such as Le Chemin du Roi Champagne and Branson Cognac. The liquor brand sources its ingredients through the multi-billion dollar alcohol company Beam Suntory, which is the third largest producer of distilled beverages across the world. Suntory is the owner of subsidiaries such as Makers Mark, Jim Beam, Hornitos Tequila, and more.
The Embezzlement Allegations
50 Cent first filed a complaint in February 2023 on behalf of Sire Spirits, which alleges that Beam Suntory was embezzling millions from his brand, and accepting kickbacks. According to the motion filed with the New York State Supreme Court, the Japanese beverage vendor overcharged Sire Spirits for liquor supplied, amounting to over $6 million.
Attorney Craig Weiner, representing Sire Spirits, has released a statement explaining the claims. Weiner explained, “Because these illicit commissions were baked into the price of the product, Sire Spirits overpaid on taxes, overpaid on customs and duties, overpaid on insurance, which are marked towards the value of the product. Beam Suntory’s role here is extraordinarily troubling. Beam Suntory’s Chief Commercial Officer, a gentleman by the name of Julious Grant, acting as an employee, as an officer of the company, acting under the actual and parent authority of Beam Suntory facilitated the entire fraud as we plead in our complaint.”
Former Sire Spirits director of Brand Management Mitchell Green reportedly pleaded guilty in a wire fraud case back in September 2023. During the trial, Green admitted that he pocketed $2.2 million in kickbacks, disguised as “agency fees” and shared the profits with two French distilleries. Green also pocketed nearly $1 million from another liquor wholesaler, and is now cooperating with the federal government in the ongoing trial.
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Beam Suntory Denies These Claims
In a statement to the press, Beam Suntory reps denied the allegations launched by 50 Cent and Sire Spirits, stating, “Beam Suntory vehemently denies all allegations of wrongdoing. It had no involvement in or knowledge of the fraudulent activity alleged in the complaint, and any allegation to the contrary has no basis in fact.” Still, depositions have begun to investigate the case, with former club king “Lord Michael” Caruso poised to be deposed under oath first. Caruso previously served as a government informant in a drug trial surrounding the NY night club scene and was allegedly paid half a million dollars per year by Beam Suntory for his part in the kickback scheme.
50 Cent personally believes that the Japanese conglomerate was trying to intentionally run Sire Spirits out of business to cover up their alleged embezzlement crimes. The rapper has stated, “This is the type of stuff that happens, and slows down new companies when they’re coming in because I guess it prevents them from growing fast enough. It’s only going to get worse than it is now, when people start paying attention to it, and I’m going to end up making a whole TV show based on it.”
New information is sure to emerge regarding the case in the coming weeks, as 50 Cent continues to take to Instagram to terrorize those who threaten his business interests. Meanwhile, Mitchell Green faces sentencing in April, with the potential for up to 20 years in prison and hundreds of thousands of dollars in fines.
The post 50 Cent’s Sire Spirit Sues Beam Suntory For Embezzlement: Breaking Down The Allegations appeared first on HotNewHipHop.
