Kanye West might soon have to dip into his billion-dollar coffers, this after a company he was associated with claims that he ripped them off. MyChannel, Inc., which specializes in video and e-commerce technology, says they helped West get his Sunday Service events off the ground.
The Blast reports:
“The founders of MYC reasonably relied on a series of promises made by Mr. West and other leaders in his organization that for six (6) months convinced them to focus 100 percent of their attention on Kanye and Yeezy, and to invest $7 Million in company resources for good measure. In fact, the MYC founders and other personnel moved for their Pennsylvania headquarters to Yeezy’s headquarters (first in California and then in Illinois) and worked full-time for Defendents, all at Mr. West’s insistence,” the lawsuit claims.
The company, which is repped by Ben Meiselas and Michael Popok, claims Kanye also promised to make a $10 million investment in the company as a part of their partnership, which he never did.
In the lawsuit, the company says they believe Kanye had no intention of following through on his promises and instead cut ties with them taking their technology with him.
It appears that West has yet to respond to the allegations levied in the lawsuit. The Chicago producer and designer has been largely focused on a haphazard bid for a presidential run in this fall’s election cycle, but those plans have been upended at almost every turn.
The presidential bid was a long shot at best considering West made his intentions to run far too late according to bylaws and such.
Kanye West Accused Of Ripping Off Black-Owned Company, Slapped With $20M Lawsuit was originally published on hiphopwired.com