2 Chainz lost quite a lot of money thanks to a bad deal with a cannabis company in Los Angeles.
According to a report by Law360.com, an investment company named Antimatter Holdings filed a lawsuit last week claiming the rapper had been scammed by Pineapple Express dispensary in Hollywood. The lawsuit stated that the Atlanta native was introduced to the company by Damien Roderick, Snoop Dogg‘s tour manager, and he later struck a deal to invest $1.5 million in the dispensary.
The dispensary’s owners told 2 Chainz that the shop would be running by April 2021, but the opening didn’t happen until March 2022 due to several issues. The lawsuit also stated that 2 Chainz’s investment had a monthly dividend, and he could take 110% of his money back whenever he wanted as long as he gave a 30-day notice.
Antimatter Holdings tried to recoup the money in May 2022, but the company made no payments. In Dec. 2022, 2 Chainz reached out to the co-founder of Pineapple Express, Vincent Zadeh, about the money but was told the company would not honor the terms of their deal, according to the lawsuit.
In a statement to SFGATE, Matthew Feinstein, a co-founder of Pineapple Express, said the lawsuit is filled with false claims and an arbitration will be filed where the matter can be settled out of court. This isn’t the first time Pineapple Express has been hit with a lawsuit, as they’ve been sued by several investors and allegedly never filed income taxes while owing almost $1.69 million in back taxes.
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The store Pineapple Express has since been closed, but Feinstein says he’ll try to reopen the location in September.
