4 Rivers Seeking Investors to Fund Fugees Rapper’s Defense Costs

By John Freund |

Litigation funding is most often associated with commercial litigation, and primarily focused on plaintiff-side funding, as these are the cases with the surest route to a profitable return on investment. However, a new funding opportunity is looking to break that mould, as 4 Rivers Services is seeking investors to fund the defense costs of a high-profile criminal case which will pit a rapper against the U.S. Justice Department.

Please log in to view membership only content
Log In Register

Commercial

View All

An LFJ Conversation with Michael Kelley, Partner, Parker Poe

By John Freund |

Litigation funding is most often associated with commercial litigation, and primarily focused on plaintiff-side funding, as these are the cases with the surest route to a profitable return on investment. However, a new funding opportunity is looking to break that mould, as 4 Rivers Services is seeking investors to fund the defense costs of a high-profile criminal case which will pit a rapper against the U.S. Justice Department.

An article from Reuters provides the details on this unique situation, which has originated from the Justice Department’s indictment of Fugees rapper Prakazrel Michel on charges of a criminal conspiracy relating to illegal donations of foreign money into Barack Obama’s 2012 election campaign, and two separate cases of lobbying the Trump administration. Whilst at first glance, this may not appear to be an obvious litigation finance opportunity, the funding advisor and broker 4 Rivers is looking for investors to fund Michel’s upcoming defense costs.

Peter Petyt, co-founder and CEO of 4 Rivers, stated that he is looking for investors to provide at least $2.6 million in funding, with the financial return guaranteed by either the recovery of previously forfeited assets if Michel is acquitted, or a share of Michel’s future revenue from his music career. Petyt recognized that the case may be ‘difficult to finance’ due to its unique circumstances, and while he has received interest from funders in the opportunity, they had not yet secured an agreement as of the time of Reuters’ publication.

Mr. Michel’s trial is currently scheduled to begin on March 27 in the U.S. Federal Court for the District of Columbia.

Read More

Legal Finance SE Announces Plans to Fund Hundreds of Lawsuits Against Illegal Online Casinos

By Harry Moran |

Litigation funding is most often associated with commercial litigation, and primarily focused on plaintiff-side funding, as these are the cases with the surest route to a profitable return on investment. However, a new funding opportunity is looking to break that mould, as 4 Rivers Services is seeking investors to fund the defense costs of a high-profile criminal case which will pit a rapper against the U.S. Justice Department.

Please log in to view membership only content
Log In Register

Federal Judges Argue Against Public Disclosure of Litigation Funding

By Harry Moran |

Litigation funding is most often associated with commercial litigation, and primarily focused on plaintiff-side funding, as these are the cases with the surest route to a profitable return on investment. However, a new funding opportunity is looking to break that mould, as 4 Rivers Services is seeking investors to fund the defense costs of a high-profile criminal case which will pit a rapper against the U.S. Justice Department.

Please log in to view membership only content
Log In Register