Akon Says His Assets Are Being Targeted By An Ex-Business Partner

While Akon has undoubtedly engraved his name as one of the most renowned black musicians, the singer has unfortunately been entangled in various personal troubles during his illustrious career. All of this has slightly tainted his record in the music industry, particularly his repeated run-ins with the law.

The "Locked Up" crooner is currently involved in a legal battle with his former business partner. Akon claimed that the individual in issue is attempting to freeze all his assets "out of spite."

Read below for more details.

According to Page Six, Devyne Stephens, owner and creator of the record company UpFront Records, and Akon enjoyed a friendship and mentorship connection during the outset of Akon's career following a meeting through rapper Lil Zane. As a result, Stephens signed Akon to his record, putting him on the path to musical stardom.

Unfortunately, that partnership has deteriorated, with both musicians at odds and fighting their differences in court. Stephens originally sued Akon for roughly $4 million in 2021, arguing that the singer owed him money from a previous legal settlement.

Without a resolution to the case, the music mogul recently pushed for a clause to be added to the complaint, asking a judge to freeze all of Akon's New York assets, saying that he'd have problems collecting the debt without the freeze.

He accused the musician of deception, adding that Akon was searching for a means to avoid paying the money. In response to the charges in the court case, the "lonely" singer alleged in a countersuit that Stephen was only acting out of malice to ruin his name during a vital point in his entrepreneurial ventures.

One of those ventures Akon referred to is worth $6 billion. It entails transforming a seaside village in Senegal into a "Wakanda-like" metropolis (Akon City) that would operate on a cryptocurrency called "Akoin."

Akon previously revealed his ambitions to establish the city in 2018, adding that he believed the project would generate jobs for residents in the West African country and act as a "home back home" for Black Americans and other persons in the diaspora who face racial discrimination.

"The system back home treats them unfairly in so many different ways that you can never imagine. And they only go through it because they feel that there is no other way," he told the Associated Press.

"So if you're coming from America or Europe or elsewhere in the diaspora and you feel that you want to visit Africa, we want Senegal to be your first stop."

Stephens' lawyer recently aimed many snide remarks regarding Akon's current project. To criticize Akon and the initiative, the legal luminary referenced the findings of former FBI Special Agent Scot Thomasson.

According to Thomasson's report, Akon's idea matched the signs of a Ponzi scheme. Stephen's lawyer used the information to conclude that there was no transparency behind the identities of the investors, and so such signals showed it was a hoax.

He went on to criticize Akoin, a cryptocurrency that would be used as a means of payment in the city, saying that there is little information about how it works even though Akon had previously announced plans for the virtual currency.

Whether or not Akon city and Akoin are multilevel marketing schemes remains to be verified. On the other hand, Akon's spokesperson is standing firm against Stephens' charges concerning Akon's commercial interests, claiming that the assertions were not made based on any facts.

"They are nothing but innuendo and speculation, made by someone who had a claim against Akon dismissed," the rep said, referring to a claim in the prior version of Stephens' lawsuit that a judge tossed.

"Akon is proud of the efforts he is undertaking to create opportunities for his homeland in Senegal," he added.

Away from his legal troubles, Akon last released a music album in 2019, dubbed "Akonda."