When rap mogul Akon announced his grandiose plans to build a hi-tech-functioning city in the West African country of Senegal, many reacted with excitement for what’s been described as a real-life version of Wakanda from Black Panther. However, the announcement also came with some understandable skepticism after the $6 billion price tag that’s needed to make it all happen was revealed.
Now there’s a lawsuit surrounding “Akoncity” currently playing out in New York, with a former business partner of the “Locked Up” hitmaker claiming that the whole thing is nothing more than a Ponzi scheme.
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Music exec Devyne Stephens says that Akon, born Aliaune Damala Badara Akon Thiam, owes him $4 million following a lawsuit filed last year. Stephens wants a judge to freeze Akon’s assets due to the difficult time he’s having at the moment when it comes to collecting on what’s owed to him. As Page Six reports, both Akon City and its plan to run on a cryptocurrency called Akoin signal to “many of the trademark characteristics (known as ‘red flags’) of fraudulent business ventures such as Ponzi schemes and pyramid schemes,” according to the findings of retired federal Special Agent Scot Thomasson. Stephen’s lawyer, Jeffrey Movit, went on to label…
