Fri 13 Jul 2012
It’s Young Buck’s time to finally face reality Earlier today (July 13), the former G-Unit rapper was sentenced to 3-years in prison for weapons charges. Last August (2011), Buck, whose real name is David Darnell Brown, was arrested for possession of a .40 caliber handgun and pleaded “not guilty.” He was later released on bond. Not long after, he found himself going to war with the government again, when the IRS raided his house over delinquent tax payments of about $300,000. He had his day in court today and was found guilty of weapons possession and will likely serve 18 months in prison.
Unfortunately, there’s more bad news for Buck. The government turned his Chapter 11 Bankruptcy filing into a Chapter 7 liquidation case. They claim he still owes creditors: $11.5 million. Included in his auction is his: Tennessee Titans soda machine. Also, he has to give up the trademark on HIS OWN NAME. You can view Buck’s auction items HERE.
Miss Info: Hearing about these two sentences this week makes me wonder….
1) how can Beanie and Buck make the money to pay back the IRS fines?
2) Wouldn’t it be even harder to collect that money after possibly the next two years in prison? (Young Buck’s 3 year sentence is actually going to be served concurrently, so it may be around 18 months total.)
3) With the quick turnaround music business that fans are used to these days, can Beanie and Buck, both very talented emcees in their prime, ever bounce back from these bids?
Read about Beanie Sigel’s upcoming prison bid after the jump…
Philly’s own Beanie Sigel will also have to turn himself in to serve a 2 year prison sentence over unpaid taxes. The Philadelphia government says Sigel owes over $700k in delinquent taxes. Apparently, Sigel made over $3 million from 1999-2002 but only paid $10,000 in taxes. Beanie must turn himself in on September 12.
The music doesn’t stop here for Sigel, though. His new label EMI/Ruffhouse still plans to drop his “comeback” album before he starts his bid. His upcoming LP, This Time, will be released on Aug. 28.
Ruffhouse CEO released this statement:
“We’re extremely proud to be re-launching Ruffhouse Records with Beanie Sigel as our first artist,” said Schwartz, a founding partner at the groundbreaking label which sold 100 million records worldwide in its first incarnation. “His sentencing today doesn’t change any of that in the least. Regardless of this unfortunate situation, Beanie has created a tremendous body of work that is totally worthy of the Ruffhouse name. It’s almost ironic that the sentencing is happening on the eve of this record, because this record is about introspection and redemption. Beanie is truly one of the great lyricists in the hip-hop game. He stands tall among all the major MCs and he’s revered by all hip-hop aficionados around the world.”
Young Buck Survives Drive-By Shooting in Nashville, Girlfriend Shot in the Shoulder
50 Cent on Lloyd Banks & Tony Yayo: “They Need to Get Themselves Together”
Miss Info Exclusive: The Self-Etherization of Young Buck Pt. 1 and Pt. 2….(double sigh)