2Pac’s Sister Sues Executor Of The Late Rapper’s Estate For Allegedly Embezzling Millions Of Dollars
2Pac is the latest deceased rapper to have the financial handlings of his estate come into question.
According to reports, a lawsuit was recently filed by 2Pac’s sister, Sekyiwa Shakur, and ‘The Tupac Shakur Foundation’ against the appointed trustee of 2Pac’s estate, Tom Whalley, who is the former chairman and CEO of Warner Bros. Records. Initially, after 2Pac’s, born Tupac Shakur, untimely death in 1996 his mother, Afeni Shakur, was named as a beneficiary of his estate. However, when she passed away in 2016 Tom Whalley became the executor of Afeni’s estate, which is largely made up of funds and assets left by 2Pac.
Sekyiwa Shakur and ‘The Tupac Shakur Foundation’ are now accusing Tom Whalley of embezzling millions “for his own benefit.” The lawsuit states,
“Upon information and belief, Whalley has already received more than $ 5.5 million that he has paid himself in the last five years through Amaru…he has effectively embezzled millions of dollars for his own benefit well in excess of what would be reasonably necessary to retrain a property qualified third-party to perform such services.”
“As a result, Whalley has unreasonably enriched himself at the expense of the beneficiaries and in bad faith by taking excessive compensation.”
In addition to that, according to the legal documents, Sekyiwa Shakur says she is the primary beneficiary of Afeni’s estate and she should have received various items and property that previously belonged to her late brother. The famed foundation also claims they are entitled to 10% of annual income from the estate.
The plaintiffs are asking for the trust to be taken out of Whalley’s control and for him to be ordered to “recompense” an amount, determined by the court, that reflects the dollar value to which the trust has been injured. However, they are asking that the ruled amount be at least $ 4,000,000. Both parties are also seeking a full accounting from Afeni’s estate, including Whalley’s compensation in connection with 2Pac’s estate, insurance matters, and filing of tax returns.
Sekyiwa Shakur and ‘The Tupac Shakur Foundation’ claim that due to them not receiving a proper accounting,
“they do not know the full scope of Whalley’s malfeasance, but it is clear that he was used and abused his powers as executor and special trustee of the estate and the trust to convert the personal property belonging to Sekyiwa as a piggy bank from which he has drawn substantial funds for his own benefit. ”
Despite the serious claims Tom Whalley is facing, a lawyer for the trust, Howard King, has called the allegations “disappointing and detrimental” to all parties involved. He said,
“Tom Whalley was a friend and confidant of Tupac and his mother, Afeni Shakur, since signing Tupac to his first major recording deal in the 90s and helping to arrange the funds to bail Tupac out of jail. After Tupac passed away, Afeni requested Tom’s help with the job of managing the Tupac assets Afeni had inherited, a task he performed, without charge, for many years. In 2015, at Afeni’s request, Tom became the manager of Amaru, the company Afeni had established to protect and exploit all Tupac assets, on normal and typical terms. Under Tom’s management, enhanced by various personal loans Tom has made to the company, Amaru has gone from virtually insolvent to a solid financial footing.”
“Afeni’s faith in Tom was further evidenced by her appointment of Tom as successor trustee of her trust. Tom became the current trustee after Afeni passed away, but has never taken any trustee’s fees even though his workload has increased well beyond what his management of Amaru required.”
“These legal claims are disappointing and detrimental to all beneficiaries of the trust. We are confident the Court will promptly conclude that Tom has always acted in the best interests of Amaru, the trust, and all beneficiaries.”
What are your thoughts on this entire situation? Do you think there’s foul play happening with 2Pac’s estate? Tell us in the comments below!
The post 2Pac’s Sister Sues Executor Of Late Rapper’s Estate For Allegedly Embezzling Millions Of Dollars appeared first on theJasmineBRAND.