Dinner Table Daily

Uncle Nearest Whiskey and Jay-Z’s Firm Allegedly at Center of $20 Million Loan Controversy
According to Yahoo News, Uncle Nearest Whiskey is allegedly facing serious legal trouble after a Kentucky lender accused the Tennessee-based spirits company of concealing a $20 million loan connected to rap mogul Jay-Z. The lender, Farm Credit Mid-America, allegedly claims that Uncle Nearest founder Fawn Weaver misrepresented the source of the funds, telling the bank the money came from one of her own companies rather than from Jay-Z’s venture capital firm, MarcyPen.
The situation allegedly worsened as Uncle Nearest was reportedly placed under court-ordered receivership, with the company allegedly owing close to $200 million, missing payroll, deleting financial records, and failing to file federal tax returns for several years. MarcyPen has since allegedly stated that Uncle Nearest is in default on the loan.
Weaver has pushed back, reportedly filing a defamation lawsuit against Farm Credit, with her legal team claiming all funds were properly documented and that the financial transfers in question were standard business practice. Jay-Z himself has not been accused of any wrongdoing in the matter.