(AllHipHop News) Shawn “Jay-Z” Carter and his Roc Nation entertainment company were used as a way to con investors out of millions of dollars, according to reports.
The New York Post cites legal documents showing Cardis International orchestrated a Ponzi scheme by claiming to have a connection to Carter.
Cardis supposedly sent emails to its alleged victims claiming it was hired by Roc Nation for bill processing.
Roc Nation’s Director Of Mobile Strategies, Briant “Beehigh” Biggs, denied Jay’s brand had a business relationship with the firm.
Biggs is listed as a member of the Advisory Board for Cardis on the company’s website.
Court papers claim Cardis International swindled $70 million in a Bernie Madoff-like plot.
Federal prosecutors are said to be investigating the Long Island based firm for fraud.
