Teddy Riley Accused Of Conspiracy & Fraud, Sued
R&B singer and producer Teddy Riley is being accused of conspiracy and fraud. Reportedly, he created an online scam to defraud investors out of thousands of dollars. He has now been hit with a 1.9 Million dollar federal lawsuit for conspiracy and fraud.
The Receivables Exchanges, an online investment company, claimed that Riley agreed to sell certain receivables. The company claims that Riley fabricated fake accounts to sell in the marketplace that would never be paid by the account debtor. Riley would then collect the money from sale and send it out to other conspirators involved in the fraud.
Get more of the exclusive details here.
This is a crazy story.
Teddy Riley does have 10 kids, wouldn’t be surprised if this had some truth.
UP NEXT: Rosie Perez Blames Whitney Biopic For Her Hospitalization
PM BUZZ: The Carters Are Moving; Diddy Wanted In Super Bowl Brawl & More was originally published on hellobeautiful.com
