Jay-Z’s company, Roc Nation, was name dropped by a Long Island firm in a Ponzi scheme that defrauded investors out of $70 million. The company who ran the Bernie Madoff-esque scheme, Cardis International, now faces a lawsuit.

Cardis claimed Roc Nation hired the firm for bill processing, however, a representative for Jay-Z later confirmed this was false.

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One of the defrauded investors, Dvora Weinstein, claimed the co-founder of Cardis, Aaron Fischman, compelled her to invest $300k by lying about Cardis’ financial stability. Fischman told Weinstein that Cardis did not need her money, but could make “a generous exception.”

A lawyer for Cardis has stated they are “not aware of any requests from the federal government.”

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About The Author Alex Albiati

move to the beat that free your mind state.

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