Young Thug has been behind bars since May 2022. He was denied bond release multiple times and is now undergoing a long and dramatic trial that has since become controversial in the world of hip-hop.
The rapper's mountain of legal trouble continues to pile up with AEG Worldwide's new legal complaint about an alleged breach of contract adding to his woes.
Young Thug vs AEG Breach of Contract Lawsuit
According to AllHipHop, Young Thug allegedly breached a contract with AEG Worldwide. Documents show that AEG is filing a civil lawsuit against him for $5 million.
Apparently, a 2017 agreement provided YSL, or Young Stoner Life Records, Thugger's label, with a $5,250,000 loan. The entertainment giant is now claiming that the record label and Young Thug breached the terms of that agreement, which has resulted in unpaid debts.
Per the agreement, AEG acquired the exclusive rights to promote Thug's live concert performance for a specific period. Because of this, YSL and Young Thug should repay the principal sum plus accrued interest and direct a portion of concert revenues to the company.
READ ALSO: Young Thug Attorney's File Motion To Have Case Dismissed
Young Thug Swimming in Debt?
Now, the company is arguing that Thug and YSL have failed to fulfill their end of the deal, which has left an outstanding $5 million debt for a $250,000 credit, with an interest of $363,700 in unpaid shares.
Per AllHipHop, AEG claimed that it has become apparent that Young Thug and YSL failed to pay back the funds and lacked the financial capacity or net worth to meet the obligations under the agreement.
The company also noted that it has interests in some of YSL and Young Thug's assets, including trademarks and copyrights, which he used as collateral from the 2017 agreement.
Because Young Thug's ongoing trial for his RICO cases has delayed the civil lawsuit trial, the publication noted that the company anticipates at least "six months after the criminal trial to complete discovery, including taking Young Thug's deposition and preparing for motion filings" before running its course.
Meanwhile, Young Thug's RICO trial was again delayed after a witness by the Georgia prosecutors admitted that he was "too high" after he had been called to the witness stand.
This may be the most epic moment yet in the Young Thug trial. lmao.
— Meghann Cuniff (@meghanncuniff) March 19, 2024
“I’m so high right now y’all I’m about to go to sleep on y’all.”
s/o @ThuggerDaily pic.twitter.com/RV8aCPlIqk
READ ALSO: YFN Lucci Goes To Jail For 10 Years: Is He Snitching Young Thug?
