Hip-hop mogul Jay-Z ignored two subpoenas earlier this year related to an investigation into the company he sold his Rocawear apparel brand to for $200 million. Now the Securities and Exchange Commission is trying to force the entertainer to talk to investigators through a court order, according to news outlets.
A federal judge ordered the rap star-turned-businessman to appear in court next Tuesday to explain why he ignored the SEC subpoenas relating to an investigation into Iconix.
Jay-Z, whose birth name is Shawn Carter, is not the focus of the probe. Investigators are looking into why Iconix has lowered the value of Rocawear repeatedly in recent years and whether it violated any securities laws, according to The Washington Post.
Jay-Z, a co-founder of Rocawear, sold it to Iconix in 2007. His attorney said the rapper refused to testify because he has nothing to do with Iconix or any business decisions the company has made.
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