R. KELLY VOWS TO HELP INVESTORS RECLAIM LOST MONEY
R&B star R. KELLY has vowed to help investors reclaim money from the promoters of a number of dates on his 2007 Double Up tour of the U.S.
A lawsuit was filed against concert promoter Leonard Rowe after it emerged he sold non-existent shares in three of the 38 dates of the tour, which ended in January (08).
The lawsuit claims Rowe and his Atlanta-based company Rowe Entertainment promised investors half of the profits from performances, in return for a cash investment of $440,000 (£220,000), reports AllHipHop.com.
Rowe then told investors the shows lost money, and as a result no funds were paid out to them - even though the shows were allegedly profitable.
The statement from Kelly - who denies any knowledge of Rowe’s wrongdoing reads, "I agreed to let Leonard Rowe promote my tour because he convinced me he was an underdog who deserved a chance to prove himself. Like the saying goes, no good deed goes unpunished.
"I have complete sympathy for all of the good people who were swindled by Rowe and I will do everything I can to help them get their money back from him."
Movie & Entertainment News provided by World Entertainment News Network (www.wenn.com)
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