Rapper turned reality star Jim Jones is being taken to court for sinking his fangs into the wallets of a few film investors. Jones is being sued for hundreds of thousands of dollars by a group of investors who claim Jones took money under the guise of making a movie, but the rapper spent the cash on himself.
As the story goes, Jim Jones entered into a deal with a group of investors to produce a film called “Vampire Life III“. He was also responsible for providing the film’s soundtrack. However, when Jones received the $200,000 investment, he stopped returning the investors’ phone calls and emails. The group became incensed when they discovered Jim Jones used some of the cash to produce mixtapes that he sold independently. The investors’ anger escalated when they found that Jones used the rest of the money to start his Vampire Life clothing line which was pitched to the the investors as merchandising for the proposed film.
The investors feel cheated because Jim Jones swindled $200,000 from them and used the money to make a profit for himself. They are suing him for a minimum of $700,000-their investment plus interest.
Jim Jones hasn’t responded to the lawsuit yet.