Jay-Z for dodging subpoena in Continuing investigation in Hotwater

The government is seeking to order testimony from the hip hop mogul in a probe related to Iconix Brand Group which had a $200 million deal with him

The SEC said it is investigating financial reporting at Iconix Brand Group of NY, which paid more than $200 million to acquire Rocawear assets but then wrote down the business by $169 million past year and another $34 million in March. A Twitter user, referencing Jay-Z's third subpoena and hit track "99 Problems", tweeted Thursday, "Now, 100 problems".

The SEC said it subpoenaed Carter in November 2017 and February 2018, and that he did not comply with the order to testify before the agency nor agreed to do so in the future.

In 2016, Iconix publicly announced a $169 million write-down of Rocawear (a "write-down" being a reduction in its estimated value), followed by another write-down of $34 million in March of this year.

The federal judge in the case, Paul Gardephe, ordered Carter to appear in a Manhattan court on Tuesday to explain why he should not be forced to talk to the SEC.

Top Donald Trump aide denies calling president an 'idiot'
Kelly is Trump's second chief of staff, having been appointed to the position this past July to replace Reince Priebus. Following his appointment as chief of staff, Mr Trump said: " John Kelly will do a fantastic job".

UN team shocked at Rohingya plight
Myanmar security forces were accused of rape, murder, torture and setting Rohingya homes on fire. Bangladesh and Myanmar signed an agreement late previous year to return the Muslim refugees.

FB to bring in ad transparency measures in Britain, says CTO
Facebook CEO Mark Zuckerberg was also questioned by lawmakers earlier this month about the company's data-privacy practices. The company, 4C, tracks $250 million in actual spending from more than 1,000 brands that use its tools to buy ads.

The SEC says regulators are looking into the $200 million purchase of Carter's Rocawear by Iconix, a major fashion brand company, in 2007. "After the acquisition, Carter and Iconix maintained publicly-disclosed partnerships related to the Rocawear brand". "Mr. Carter is a private citizen who should not be involved in this matter", the statement said.

Jay-Z will probably be required to respond questions to get since many days as it happens and will be asked to show up ahead of the SEC in Washington, " the judge claimed.

The hip hop mogul born Shawn Carter, who just announced plans for a six-part documentary series examining Meek Mill and flaws in the criminal justice system, has been issued an investigative subpoena.

Simply asserting he does not have relevant information will likely not be enough for Carter to be allowed to ignore the subpoena, Chase said. Shares for the company are down almost 7% in trade today after this news.

Related news:

loading...

Hot News

isis-killer-beheading-video-story-top Paris May Day rally: Riot police use teargas, water cannon against anarchists
May 03, 2018 - 13:34
Unions said the number of peaceful protesters at the main demonstration on Tuesday was about 55,000. There is widespread discontent in labour unions over Mr Macron's reforms.

isis-killer-beheading-video-story-top After Avengers: Infinity War - Here's Some Big Avengers 4 Predictions
May 03, 2018 - 13:32
However, when he did not move after some time , they investigated further and realised that he had died with his eyes open. Avengers: Infinity War is true to its universe so that longtime fans are satisfied and character choices make sense.

isis-killer-beheading-video-story-top NRA members not allowed to bring guns into Trump speech
May 03, 2018 - 13:30
The restriction is not unique to the NRA event and is common practice for events that are secured by the Secret Service. And appearances by Pence and Trump will be guarded by Secret Service - plenty of good guys with guns in the room.

isis-killer-beheading-video-story-top China's Xiaomi files for mega Hong Kong IPO, lifts lid on financials
May 03, 2018 - 13:29
The move comes as the Chinese smartphone maker has expanded quickly to become the fourth-largest seller in the world . It also said it made a net loss of 43.89 billion yuan versus a profit of 491.6 million yuan in 2016.

isis-killer-beheading-video-story-top UFC Won't Punish Conor McGregor Until Legal System Plays Out
May 02, 2018 - 01:51
Diaz and McGregor rematched later that year in Las Vegas for a huge rematch, which remains one of the greatest fights of all time. There's been a lot of talk about this Khabib fight and it seems to be brewing towards this one.

Everett Harris & Company Maintains Position in Starbucks Corp. (SBUX)
May 02, 2018 - 01:49
Weatherly Asset Limited Partnership holds 2.22% of its portfolio in Starbucks Corporation ( NASDAQ : SBUX ) for 159,585 shares. Royal National Bank & Trust Of Canada has 0.02% invested in Marathon Oil Corporation (NYSE:MRO). (NYSE:V) for 8,600 shares.

isis-killer-beheading-video-story-top U.S. to delay European Union tariff decision until June 1
May 01, 2018 - 08:23
For now, these actions, and a probable trade war, are likely to be delayed by Trump's extension. But similar to his other moves on trade , Trump backed down on the threat.

isis-killer-beheading-video-story-top Trump likes DMZ for Kim summit venue
May 01, 2018 - 08:22
In January, Moon said Trump "deserves big credit for bringing about the inter-Korean talks". Additional reporting from Newsy affiliate CNN .

isis-killer-beheading-video-story-top Fedor Emelianenko questioned by Federal Bureau of Investigation before stunning knockout victory at Bellator 198
Apr 30, 2018 - 01:58
Mir landed a big left early that appeared to hurt Emelianenko but the Russian managed to get back to his feet. Danis, who previously dominated the jiu jitsu circuit, submitted Walker at 1:38 in the first round.

isis-killer-beheading-video-story-top Trump to make long-delayed visit to Britain in July
Apr 29, 2018 - 00:19
But many people believed that excuse was bogus and speculated that Trump was really skipping the grand opening to avoid protests . President Donald Trump is in the middle of a 5-country, 12-date tour of Asia, which now finds him in Beijing, China.

isis-killer-beheading-video-story-top Cowboys' Witten retiring after 15 seasons to join MNF
Apr 29, 2018 - 00:14
BC-FBN-Draft-Cowboys-Third Day, 183Question turns to Witten after Cowboys address Bryant voidAP Photo CBS107Eds: APNewsNow. Hold the phone on Dallas Cowboys tight end Jason Witten heading to the Monday Night Football booth.

isis-killer-beheading-video-story-top CDC: Lettuce-Linked E. Coli Outbreak Spreads To Wisconsin
Apr 28, 2018 - 10:57
The growing season in the Yuma region runs from November to March and then moves north to Salinas, California, for the summer. Those most at risk for E. coli illness include the very young, the very old and individuals with compromised immune systems.

isis-killer-beheading-video-story-top Demos in Warsaw in support of sick United Kingdom boy Alfie Evans
Apr 28, 2018 - 10:53
Further, U.K. law allows doctors to override parents' wishes in regards to medical care if it's in the child's "best interests". Tom Evans and Kate James, the parents of Alfie Evans, are meeting doctors on Thursday to discuss taking their son home .

isis-killer-beheading-video-story-top Fortnite Season 4 Brace for Impact: Superhero theme for Battle Royale confirmed?
Apr 27, 2018 - 00:57
With the 10th week of Season 3 arriving very, very soon, it's time to look ahead at the Fortnite Season 4 Release Date and Theme. The comet, meanwhile, seems to be a clear reference to the ongoing comet theory.

isis-killer-beheading-video-story-top Deutsche Bank posts sharp decline in net profits
Apr 27, 2018 - 00:56
The figure was short of analyst expectations for 374 million euros and down sharply from 575 million euros a year earlier. First Republic Investment Management Inc. bought a new stake in Deutsche Bank in the 3rd quarter valued at $180,000.