According to reports, Sire Spirits, the company owned by hip-hop entrepreneur 50 Cent, has been doing extremely well.
In fact, the company was so successful with its line of Branson Cognac and Le Chemin du Roi champagne that one of its employees skimmed millions from the spirits brand.
According to The New York Post, Curtis Jackson’s former director of Brand Management for Sire Spirits, Mitchell Green, reportedly siphoned
$2.2 million from the company. He’s accused of selling the product for a higher price while receiving kickbacks from wholesalers. Court records show that he made money by labeling the funds he was given as “agency fees.”50 Cent’s items are a bit pricey. Branson Cognac, which he launched in 2018, retails for a minimum of $200. His champagne, Le Chemin du Roi, started in 2019, can be bought for $150 and higher.
Green allegedly admitted to his Get Rich or Die Trying scheme in February 2020. He confessed, “after two years of embezzling from Sire Spirits” due to being extorted by an individual who was aware of his thievery and threatened to expose his past transgressions. Sire Spirits terminated him and took him to arbitration.
The arbitrator found that Green was responsible for the stolen funds and another $948,096 the former employee paid to a wholesaler. Green was ordered to pay an additional $2.7 million in fees for costs, damages, and attorneys fees. Court records revealed that he owes a total of $6.2 million.
Houston Texans Partner with Sire Spirits
Meanwhile, the Houston Texans just announced that they had formed a multi-year partnership with 50 Cent, his Sire Spirits brand, and his G-Unity Foundation charity organization.
“We are thrilled to partner with Curtis and his team to offer Sire Spirits to our fans on gamedays,” Houston Texans President Greg Grissom said in a written statement. “We share a common goal of giving back to the city we call home, so bringing Curtis on board to present our 50/50 Jackpot on gamedays was a natural fit. We look forward to the great work we will do together through this partnership.”
50 Cent already has a partnership with the Houston Rockets.