Los Angeles, CA – Investor Ramin Natan is reportedly suing Young Money, Lil Wayne, Migos’ touring company and all three members of Migos.
According to the JasmineBRAND, Natan claims he loaned over $500,000 to a third-party, Eric Stenger and Echelon Music Group, to promote shows for both acts in 2017. But the problem is the shows never happened.
Natan’s lawsuit alleges Wayne and Migos all profited from the $500,000 loans but never offered to return any of the money.
In a screenshot of the court documents, defendants listed include Quality Control Booking, Quavious Marshall (Quavo), Kiari Cephus (Offset), Kirshnik Ball (Takeoff), Dwayne Carter and Young Money Touring, Inc.
Natan accuses them of breaking their contracts. In fact, he insists Wayne and Stenger are “ponzi scam artists” and created shell companies for the sole purpose of collecting the funds.
As a result, Natan is suing for $500,000 plus more in damages.