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Judge orders Jay-Z to face SEC questions in financial probe

Judge orders Jay-Z to face SEC questions in financial probe | iNFOnews.ca
FILE - In this Jan. 27, 2018, file photo, honoree Jay-Z speaks onstage at the 2018 Pre-Grammy Gala And Salute To Industry Icons at the Sheraton New York Times Square Hotel in New York. Jay-Z must explain why he's dodging a subpoena rather than answering questions related to a financial investigation of a consumer brand company that bought his Rocawear clothing line, a judge says. In an order made public Thursday, May 3, U.S. District Judge Paul G. Gardephe instructed the performer and entrepreneur, whose birth name is Shawn Carter, to appear in a New York courtroom next Tuesday to explain himself. (Photo by Michael Zorn/Invision/AP, File)

NEW YORK – A New York judge says Jay-Z must answer questions from the Securities and Exchange Commission in a financial probe by the regulator.

Lawyers for the SEC and Jay-Z settled on May 15 for a deposition Tuesday after U.S. District Judge Paul Gardephe (GAHR’-duh-fee) said Jay-Z can’t dodge the questions any longer.

Jay-Z has argued that his testimony is not that important to the SEC’s probe of the Iconix Brand Group. Jay-Z, who was not in court, sold his apparel brand to Iconix in 2007. He also says he’s too busy getting ready for a worldwide tour starting next month.

Gardephe said the SEC has shown that Jay-Z’s testimony about the sale of his company and his participation in meetings, phone calls and emails are relevant to the probe into Iconix.

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