Jay-Z under Federal investigation

Posted: 22nd February 2010 by Staff in Jay-Z

 

jayzandgovpattersonunderinvestigation thumb Jay Z under Federal investigation 

Nobody wants the "Alphabet Boys" in your business…especially if you’re a rapper. 

 

 

New York Governor DAVID PATERSON has denied rumors his friendship with JAY-Z influenced him to approve a new race track and casino venture.

 

Bosses at event promotion company Aqueduct Entertainment Group (AEG) landed a lucrative multi-million dollar contract from New York state officials in January (10) to upgrade the existing Aqueduct Race Track venue and turn it into a top race track and gaming site – known as a racino – the only legal gambling place in the city.

 

But the ethics surrounding Paterson’s choice of contractor has been called into question after it was revealed Jay-Z holds a seven per cent stake in AEG via his firm Gain Global Investments Network LLC.

 

The rap superstar established a friendship with Paterson after they teamed up to stage his star-studded 9/11 benefit concert at the Big Apple’s Madison Square Garden last September (09). 

 

Jay-Z signed a deal with AEG executives later that month – but the agreement has prompted a federal investigation into whether Jay-Z and Paterson conspired to illegally and unethically acquired the bid contract.

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