Rapper 2 Chainz has reportedly lost a significant amount of money due to a problematic investment in a cannabis dispensary in Los Angeles.
According to a recent report by Law360.com, an investment company called Antimatter Holdings filed a lawsuit last week, alleging that 2 Chainz was scammed by the Pineapple Express dispensary in Hollywood.
The Atlanta-based rapper, whose real name is Tauheed Epps, was introduced to the dispensary by Damien Roderick, Snoop Dogg’s tour manager.
Following the introduction, 2 Chainz agreed to invest $1.5 million in the business.
The lawsuit claims that the dispensary’s owners initially told 2 Chainz that the shop would be up and running by April 2021.
However, due to various delays, the opening did not occur until March 2022.
The lawsuit also notes that 2 Chainz’s investment was supposed to yield a monthly dividend, and he was promised that he could withdraw 110% of his investment at any time, provided he gave 30 days’ notice.
In May 2022, Antimatter Holdings attempted to recover the funds, but the company allegedly failed to make any payments.
By December 2022, 2 Chainz reportedly reached out to Pineapple Express co-founder Vincent Zadeh to discuss the matter, only to be told that the company would not honor the terms of their agreement.
In response to the lawsuit, Matthew Feinstein, another co-founder of Pineapple Express, told SFGATE that the lawsuit contains false claims and that the issue would be addressed through arbitration, seeking to resolve the matter out of court.
This is not the first legal trouble for Pineapple Express, as the company has faced multiple lawsuits from investors and allegedly owes nearly $1.69 million in back taxes.
