Ballin on a Budget

Dipset's Jim Jones is balling on a budget according to industry rumors. Like his mentor and friend Dame Dash, Jones has fallen on financial issues. The "Swagga like us" reject, who bragged about his finances is now being accused of not paying his producers and featured artist that appeared on Bad Santa. A lawyer for one of the producers featured on Bad Santa contacted SOHH in response to a post on AllHipHop.

I read on the allhiphop.com rumor section that Jim Jones is getting sued by a team of producers who he jacked for his "Bad Santa" album. As a Manager for a producer who placed 4 tracks on this project and I can confirm this rumor as true.


I have been trying for months to resolve this situation with Koch, Chris Luck, Yandi Smith, and Jim's lawyers. I was told by Jim's team that they were waiting on E1/Koch to open up the budget and that everyone would receive their producer declarations and checks by the end of the January. Once February rolled around I remained very skeptical of the lies from Yandi Smith, Chris Luck, and Jim Jones, and that's when Jim's manager Yandi Smith and lawyers at Seldemeyer and Associates in a last ditch lie instructed me to contact E1/Koch in order to receive my producers check.

You'll be surprised to know that upon contacting the E1/Koch financial department last week the truth was revealed. It turns out that E1/Koch had cut Jim Jones, Byrd Gang Records and Jones Family Productions, the whole lump sum check for the budget for this album months ago, in addition to checks for two future projects. This unidentified employee in the the E1/Koch financial department expressed to me that I am not the first, nor the last manager/lawyer to contact them regarding Jim's misappropriation of budget checks designated for payments to producers and featured artists.

In fact under sworn secrecy I was divulged information that the IRS in looking into Jim for possible tax evasion due to his embezzling of these funds. This employee of E1/Koch as well as a source at Sony also informed me about Jim Jones' current financial problems and possibility of bankruptcy resulting from his lack of income due to his debut Sony album being pushed back for a 2 years period, in addition to his extravagant buyout (It was rumored to be $10 million plus) he was forced to pay Cam'Ron in order to be released from his Dip Set contract and retain his Jim Jones Stage name. (SOHH)

I guess now Jimmy can stop worrying about Jay Z business. The IRS are three people no one wants trouble with. To much time focusing on Jay, and less time on writing checks to featured artist and producers. No more visits to the Gucci store to fight, Jim should stop at the return counter. (I had too sorry, Jimmy)

Besides Jimmy financial issues, Cam'ron makes a bold allegations that Juelz Santana is addicted to syrup. Santana released a statement:

"For him to say he stopped messing with me because I was drinking syrup -- that's like Baby saying he doesn't mess with [Lil] Wayne because he was drinking syrup," Santana said in an interview. "He just wanted to say something and that was probably the only way he could say something and keep his character up. I was never addicted to syrup. I used to drink it on occasion. I don't know where that came from. [His comments] were a shocker to me, like, 'Damn, you would stoop low like that?' With his stomach situation, he was doing Percocet. It's not for me to say, 'Because he was using Percocet, I stopped speaking to Cam.'...I still wish him the best. But that syrup comment -- I didn't understand where that came from." (MTV)


After allegations of failure to pay producers and featured artist, Juelz is addicted to syrup, Dipset have more news. Dipset affiliate King Tut is a wanted man at large, after he allegedly stabbed a woman seven times in her Hackensack, New Jersey apartment yesterday (February 12).

The rapper and an associate were arrested early Wednesday morning(February 11) in Northern New Jersey, after police found a half-ounce of cocaine hidden inside of a teddy bear.

Also recovered were several small baggies of marijuana and drug paraphernalia, including a digital scale. According to police, King Tut, born Darnell Brittingham, was released from Bergen County Prison yesterday (February 12), after he posted a $25,000 bond.

Just hours after being released, the 23-year-old went to the Hackensack apartment and stabbed the unidentified woman seven times. Police are now seeking to arrest King Tut for the attempted murder, but currently do not know his whereabouts.

The woman is expected to live and is currently recuperating in a New Jersey hospital. (ALLHIPHOP)