Akon found himself embroiled in a $4 million lawsuit that was brought against him by an ex-business partner last year. It appears the case is not really working in favor of the singer, at least financially.
We noted earlier that Devyne Stephens – a music executive who’s worked with the likes of Jay-Z, Destiny’s Child, Usher, and Pink asked a judge to freeze Akon’s New York assets. He filed the motion back in March.
Akon has reportedly paid $850,000 to his ex-business partner to settle part of an ongoing lawsuit. The $850,000 payment sorts out at least a fragment of Stephens’ suit, Akon said in a statement through his representative.
“This week I fully resolved Devyne Stephens’ court application to freeze my New York assets,” Akon said in a statement. “Although I have several substantial claims that will be pursued against Stephens in the pending case, I paid him $850,000 – some of which I still challenge – to show the public that he was flat out wrong about any inability to pay the last installment of our prior settlement.”
About Stephens’ motion for freezing Akon’s assets, Manhattan Supreme Court Justice Arthur Engoron denied it on Thursday. The ruling stated, “as moot, as this issue has been otherwise resolved pursuant to an agreement between the parties.”
The former partners are still fighting it out in court over Stephens’ claims that the musician owes him at least $3 million in royalties. According to Akon’s lawyers, “Smack That” singer only gave the money because judge had indicated that he’d grant Stephens’ request to freeze his assets. Fortunately that didn’t happen