Latest news with #Sire
Yahoo
28-05-2025
- Business
- Yahoo
50 Cent gets a green light to seize a former employee's home, then gets back to mocking Diddy
Mess with 50 Cent and he might come for your house — even if it takes him a few years to do it. The rapper's company Sire Spirits got the OK last week from a federal judge to seize the Connecticut home of former Sire executive Mitchell Green as partial payment toward a $7-million debt after a federal bankruptcy judge lifted an automatic stay that had prevented transfer of the property. Read more: 50 Cent apparently finds it hilarious that Gloria Allred's client is suing him for alleged assault That took 50 Cent — real name Curtis Jackson III — and his legal team a little more than four years to accomplish, from when Green confessed to embezzling from his employer via a kickback scheme involving wholesalers until last week when the stay came off the house. Branson Cognac and Chemin du Roi Champagne, both owned by Jackson, are managed through Sire Spirits. Green admitted in February 2020 that he had been raising prices and getting kickbacks from wholesalers that were labeled "agency fees," the New York Post reported in 2022 and 2023. Sire Spirits filed a request with the U.S. District Court, New York Southern, on Sept. 1, 2021, for confirmation of an arbitration agreement of a little less than $3.5 million in damages, according to court documents reviewed by The Times. Green had been embezzling from 2018 into 2020, when someone attempted to blackmail him over the $2.2 million in kickbacks, according to AllHipHop. At that point, Green told his employer what he'd done. Sire Spirits fired him and went into arbitration, which was settled in Sire's favor. With attorney fees and legal costs rolled in, the November 2022 final judgment totaled around $6.3 million. Read more: Rapper Kid Cudi says his car was set on fire after Sean 'Diddy' Combs broke into his Hollywood Hills home In March 2023, the disgraced businessman filed for Chapter 7 bankruptcy protection, which was still going on when Sire Spirits' legal team secured a judgment lien against Green's home in Westport, Conn., according to the court documents. Green's legal team had been providing court-ordered updates on the status of the property, always stating that Green was still in bankruptcy proceedings and therefore still had that automatic stay protecting his home. But last week, Sire's attorneys asked the bankruptcy judge to get rid of the stay, saying that Green had no equity in the home due to the size of the judgment against him and therefore the property didn't need to be part of his liquidation. The judge agreed and lifted the stay. The Connecticut home was appraised in late April at $1 million. That value will ultimately be credited against the judgment plus pre- and post-judgment interest, which now totals around $7 million. Read more: 50 Cent trolls Diddy's son King Combs for diss track that refers to feds' raids of homes Although Jackson has mentioned Branson Cognac recently on social media, he hasn't said anything about the legal victory. In the last week, the rapper has been enjoying himself by poking fun at Sean "Diddy" Combs, a.k.a. "Puffy," who is mired in a federal sex trafficking and conspiracy trial, where prosecution witnesses have been testifying. "Cut, CUT ... Wait a minute PUFFY's got a gun, I can't believe this I don't feel safe ... LOL," Jackson wrote Tuesday on social media, posting screen shots of new testimony from Combs' former assistant Capricorn Clark. Clark told the court that Combs said something about guns that she took as him making a threat against Jackson. "Oh my goodness itty bitty Diddy wants me Dead," the entrepreneur and provocateur said in a follow-up post. "I have to lay low, I think I'm gonna hide out at the playoff game tonight LOL." He posted a comical picture of himself looking completely freaked out. The New York Knicks and the Indiana Pacers should be tipping off right about now. Get notified when the biggest stories in Hollywood, culture and entertainment go live. Sign up for L.A. Times entertainment alerts. This story originally appeared in Los Angeles Times. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Los Angeles Times
27-05-2025
- Business
- Los Angeles Times
50 Cent gets a green light to seize a former employee's home, then gets back to mocking Diddy
Mess with 50 Cent and he might come for your house — even if it takes him a few years to do it. The rapper's company Sire Spirits got the OK last week from a federal judge to seize the Connecticut home of former Sire executive Mitchell Green as partial payment toward a $7-million debt after a federal bankruptcy judge lifted an automatic stay that had prevented transfer of the property. That took 50 Cent — real name Curtis Jackson III — and his legal team a little more than four years to accomplish, from when Green confessed to embezzling from his employer via a kickback scheme involving wholesalers until last week when the stay came off the house. Branson Cognac and Chemin du Roi Champagne, both owned by Jackson, are managed through Sire Spirits. Green admitted in February 2020 that he had been raising prices and getting kickbacks from wholesalers that were labeled 'agency fees,' the New York Post reported in 2022 and 2023. Sire Spirits filed a request with the U.S. District Court, New York Southern, on Sept. 1, 2021, for confirmation of an arbitration agreement of a little less than $3.5 million in damages, according to court documents reviewed by The Times. Green had been embezzling from 2018 into 2020, when someone attempted to blackmail him over the $2.2 million in kickbacks, according to AllHipHop. At that point, Green told his employer what he'd done. Sire Spirits fired him and went into arbitration, which was settled in Sire's favor. With attorney fees and legal costs rolled in, the November 2022 final judgment totaled around $6.3 million. In March 2023, the disgraced businessman filed for Chapter 7 bankruptcy protection, which was still going on when Sire Spirits' legal team secured a judgment lien against Green's home in Westport, Conn., according to the court documents. Green's legal team had been providing court-ordered updates on the status of the property, always stating that Green was still in bankruptcy proceedings and therefore still had that automatic stay protecting his home. But last week, Sire's attorneys asked the bankruptcy judge to get rid of the stay, saying that Green had no equity in the home due to the size of the judgment against him and therefore the property didn't need to be part of his liquidation. The judge agreed and lifted the stay. The Connecticut home was appraised in late April at $1 million. That value will ultimately be credited against the judgment plus pre- and post-judgment interest, which now totals around $7 million. Although Jackson has mentioned Branson Cognac recently on social media, he hasn't said anything about the legal victory. In the last week, the rapper has been enjoying himself by poking fun at Sean 'Diddy' Combs, a.k.a. 'Puffy,' who is mired in a federal sex trafficking and conspiracy trial, where prosecution witnesses have been testifying. 'Cut, CUT ... Wait a minute PUFFY's got a gun, I can't believe this I don't feel safe ... LOL,' Jackson wrote Tuesday on social media, posting screen shots of new testimony from Combs' former assistant Capricorn Clark. Clark told the court that Combs said something about guns that she took as him making a threat against Jackson. 'Oh my goodness itty bitty Diddy wants me Dead,' the entrepreneur and provocateur said in a follow-up post. 'I have to lay low, I think I'm gonna hide out at the playoff game tonight LOL.' He posted a comical picture of himself looking completely freaked out. The New York Knicks and the Indiana Pacers should be tipping off right about now.
Time of India
23-04-2025
- Business
- Time of India
Boeing names Stacie Sire VP, MD, Boeing India Engineering & Technology Center; Chief Engineer, Boeing India
Boeing has named Stacie Sire as vice president and managing director, Boeing India Engineering & Technology Center (BIETC) and chief engineer, Boeing India. Sire succeeds Ahmed Elsherbini, who led this position from April 2021 to January based in Bengaluru, Sire has taken over strategy and operations for BIETC, where she will be responsible for advancing BIETC's goals and priorities in India and enhancing team capabilities to continue to support business growth. Additionally, she serves as chief engineer for Boeing Elsherbini has taken over a new role as senior vice president and general manager and head of Boeing Global Engineering. 'I am excited to have Stacie join our team,' he said. 'With 27 years of proven leadership at Boeing, Stacie brings invaluable experience to this role. Her expertise in leading teams and driving innovation for complex engineering programs, combined with her deep technical knowledge and collaborative mindset, will be key as we work towards building a fully integrated global engineering organization for The Boeing Company.' 'Boeing's growth in India as an industry leader and innovator in aerospace and defence is inspiring, and I am committed to working alongside our team here to continue advancing that journey. With a focus on safety, quality, engineering excellence, and collaboration, we have exciting opportunities ahead, and I look forward to contributing to BIETC's continued success,' Sire said. Sire began her career at Boeing as a structural engineer and later became a first-level manager in loads and dynamics supporting 787 and product development. As a senior manager, she led systems stress and airplane-level integration teams supporting all 787 models. Sire subsequently held director and chief engineer positions for 767/777 airframe, 787 airframe, propulsion structures/systems/production engineering, and airplane-level engineering integration. As a senior director, she led structures engineering for Boeing commercial airplanes and, most recently, served as senior director of engineering for fabrication, leading a global team supporting 20 different manufacturing business units.
Time of India
22-04-2025
- Business
- Time of India
Boeing India Engineering & Technology Center names Stacie Sire as VP, MD
Boeing has appointed Stacie Sire as vice president and managing director of Boeing India Engineering & Technology Center (BIETC) and chief engineer of Boeing India. Sire succeeds Ahmed Elsherbini, who led this position from April 2021 to January 2025, according to a company statement. Based in Bengaluru, Sire has taken over strategy and operations for BIETC, where she will be responsible for advancing BIETC's goals and priorities in India, and enhancing team capabilities to continue to support business growth, the statement said. She also serves as chief engineer for Boeing India. 'Stacie's expertise in leading teams and driving innovation for complex engineering programmes, combined with her deep technical knowledge and collaborative mindset, will be key as we work towards building a fully integrated global engineering organisation for The Boeing Company,' the statement said. Sire began her career at Boeing as a structural engineer and later became a first-level manager in loads and dynamics supporting 787 and product development. As a senior manager, she led systems stress and airplane-level integration teams supporting all 787 models. She subsequently held director and chief engineer positions for 767/777 airframe, 787 airframe, propulsion structures/systems/production engineering and airplane-level engineering integration. As a senior director, she led structures engineering for Boeing commercial airplanes and, most recently, served as senior director of engineering for fabrication, leading a global team supporting 20 different manufacturing business units, according to the statement. 'Boeing's growth in India as an industry leader and innovator in aerospace and defence is inspiring, and I am committed to working alongside our team here to continue advancing that journey,' Sire said. Meanwhile, Elsherbini has taken over a new role as senior vice president, general manager and head of Boeing Global Engineering . Boeing in India has strengthened its supply chain with more than 300 local companies and a joint venture to manufacture fuselages for Apache helicopters and vertical fin structures for the 737 family of airplanes. Annual sourcing from India stands at over $1.25 billion. Boeing currently employs close to 7,000 people in India and more than 13,000 people work with its supply chain partners, according to the statement.
