American rapper, Lil Wayne is now set to sue his ex-lawyer Ronald Sweeney for allegedly swindling him out of $20million while he was still his representative from 2005 to 2018.
According to TMZ report, Ronald Sweeney while acting as a representative for the Cash Money/Young Money rapper, was entitled to an attorney fee of 10% in every single deal, which is well over the 5% that is obtainable in the industry, and Lil Wayne is not happy about that.
The TMZ report also stated that in addition to Ronald Sweeney charging Lil Wayne for his services, he allegedly tried to squeeze more cash out of him by seeking an additional 10% for all profits netted by his Young Money label, but the rapper prevented that from happening.
Sweeney also was alleged to have managed to pull even more funds out of Wayne by enlisting the help of another law firm for the ongoing legal battles with Birdman and Cash Money Records, as well as Universal Music Group. The firm allegedly took 23% from the settlement with Cash Money, and 15% from the latter settlement. Those percentages were added onto the 10% Sweeney was already expected to receive.
TMZ reports that the initial reports indicated that Universal cut a check for “well over $10 million,” but that amount has never been confirmed. “A portion of the information released today is true, a settlement has been reached, but the dollar amount being disclosed is false,” Karen Civil wrote in response to reports of the settlement. “Per our settlement agreement, the matter has been amicably resolved to the satisfaction of all parties,” Sweeney said at the time. “In terms of the particulars, we’re prohibited legally from saying anything further. I can say that my client is happy. He is his own man, a man that owns his assets, his music and himself. At some point, Wayne will let his fans know what’s going to happen next.”