AKA dragged to court for siphoning funds
Art Business

AKA dragged to court for siphoning funds

AT LOGGERHEADS Prince Nyembe and AKA have fallen out Rapper AKA’s former business partner and friend Prince Nyembe filed an urgent application at the Johannesburg High Court on Wednesday to stop the rapper from diverting their company’s funds into his personal account. In the court papers, which City Press has seen, Nyembe claims that AKA – real name Kiernan Forbes – diverted almost R2 million from income streams including a Cruz Vintage Black endorsement contract; a Cruz Watermelon contract; and album revenue from Nyce Distribution and performances, which was secured under Beam Group, to his personal account without Nyembe’s consent. Nyembe owns a 30% stake in the company while AKA owns 70%. Nyembe alleged in the court papers that AKA had breached their agreement contract, hence he was going the legal route. In a separate contract, signed in 2016, AKA appointed Beam Group as his manager and agent. The contract further stated that the company’s role was to represent and receive payments on behalf of AKA. When City Press contacted Dino Daraujo, brand manager of beverage company Distell, which has interests in Cruz Vintage Black and Cruz Watermelon, to verify whether Distell did pay the artist money on his […]

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