Tuesday, February 23, 2010


It's so hard to keep Hov's business dealings, but it looks like he's under investigation.

According to the New York Post, the rap mogul's involvement with the Aqueduct Entertainment Group (AEG)—the consortium chosen to run a multi-billion dollar race track/casino at the Aqueduct Racetrack in Queens and his connection with New York state Governor David Patterson —has ignited a federal investigation.

According to reports, authorities are more than skeptical about the selection of AEG to operate the new venture and what role Jay played in swaying New York Governor David Patterson's decision.

Paterson, who is known for having a relationship with the 40-year-old rapper—has a seven percent stake in AEG and according to sources, knew that Jay-Z had been trying to get involved with the investment since last year. One source reportedly told the Post that Jay eventually linked up with casino mogul Steve Wynn, who at the time was bidding for control.

According to reports [Gov.] Patterson advised Wynn that “he needed to have a minority partner” and that is when, according to sources, Wynn reached out to Jay-Z. But when Wynn pulled out, Jay-Z was without a home.

The source then claims that when Wynn's deal went sour, AEG scooped up Jay to appeal to the governor.

AEG denies that it tapped the Hip-Hop heavyweight to win the governor's favor.

No comments: