News: Gucci Mane Gets Iced Out, Loses $274,000 Jewelry Battle
Thursday, May 31, 2012 10:09AM
Atlanta's Gucci Mane may have gold and platinum plaques hanging up in his home, but the rapper is now being forced to pay over $270,000 in a diamond jewelry case.
Details of Gucci Mane's pricey lawsuit loss emerged online early Thursday (May 31).
Rapper Gucci Mane just lost a $270,000 battle in court -- after a jewelry company in Georgia sued the rapper for stealing a buttload of diamonds ... and won. A&A Diamonds retained attorney Vivian Uchitel (no relation) to file the lawsuit earlier this year in Henry County, claiming it loaned the rapper a $130,000 diamond pinky ring ... in addition to a diamond necklace and bracelet worth $110,000. According to the lawsuit, Gucci had 15 days to pay for the goods or return them -- and he did neither ... coughing up only $40,000. A&A sued for a total of $274,523.34 -- the $200,000 jewelry balance plus interest and attorneys' fees. Gucci never showed up in court, so a default judgment was entered against the rapper in April. A lien was then placed on the rapper's property. (TMZ)
Gucci's not the only rapper to get tangled up in hefty jewelry cases as West Coast rapper Game had a $91,000 case on his hands last year.
The order stems from an outstanding debt first made public in a complaint filed last year. The original filing asserted that Game received a 14k white gold chain with white stones and a 14k yellow gold chain with yellow stones for $15,000 apiece; a diamond stud for $4,000; a 14k white gold and a 14k yellow gold 5-row bracelet for $17,500 apiece; and two other golditems for $30,000. The overall debt amounts to $99,000, but Lemmerman's claims that Game did manage to pay off some of his debt some years back. Since then, Game has refused payment on the items and now must tack on additional interest fees. (The Boom Box)
No stranger to losing some cash, Gucci revealed catching the bad end of a Super Bowl bet earlier this year.
"That's my partner and we're definitely trying to work something out," Gucci said referring to Birdman. "We're always trying to work something out. You know I'm a business man. I always keep my ears open to what's going on. [Am I a sports fan?] I'm a big sports fan. I lost like three bets in a row. I bet on the [Baltimore] Ravens, the [San Francisco] 49ers and the Patriots and I lost three in a row. [Did I want to take on Birdman's $5 million bet?] Nah, he wanted the same team, both of us went for the Patriots. Yeah, I lost." (Hot 107.9)
He has put his money up to good use in the past, previously paying for slain rap affiliate Slim Dunkin's funeral last winter.
Waka Flocka Flame and Gucci Mane are throwing down big $$$ to cover funeral expenses for a fellow Atlanta rapper -- who was brutally gunned down last week -- lavishing their fallen comrade with elaborate memorial arrangements. Rapper Slim Dunkin (center) -- real name Mario Hamilton -- was shot and killed Friday night inside an Atlanta recording studio ... after a verbal altercation with an unidentified man turned deadly. Now, a rep for Waka and Gucci tells TMZ, the rappers are pooling their assets to ensure Slim is laid to rest in the best way possible ... with an elaborate funeral that includes a white horse-drawn carriage, massive white floral arrangements, and a white dove release ceremony. We're told Slim's family will cover some funeral costs -- but Waka and Gucci are paying for the lion's share. The funeral is scheduled to take place Friday morning at 11am at Berean Christian Church in Atlanta. (TMZ)
Check out a recent Gucci Mane interview below: