Young Thug Sued After Selling Catalog For $16 Million, Allegedly Defaulted On Loan From AEG

November 19, 2024 by in Music with 0 Comments

Young Thug

Young Thug Sued After Selling Catalog For $16 Million, Allegedly Defaulted On Loan From AEG

Young Thug is facing more legal woes just weeks after being released from jail.

In a new lawsuit filed by entertainment company AEG, the rapper is accused of selling his catalog for $16 million without AEG’s consent, according to All Hip Hop. AEG said the money he made from selling over 400 compositions was supposed to go toward what he owed the company following a loan.

AEG loaned Young Thug‘s YSL label $5.25 million in 2017 in exchange for exclusive global rights to promote his concerts. Young Thug and YSL were supposed to pay the money back with interest, however, two years later things went left and AEG accused Young Thug of defaulting on the loan.

He then allegedly sold the catalog in 2021, a move that AEG says left them blindsided. Now, the company wants the original amount owed plus any money made from transferring copyrights.

As we all know, Young Thug was arrested in 2022 for criminal charges in Georgia and was released recently.

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Authored by: C.J.

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