Rap mugul Jay Z, real name Shawn Carter, is having trouble finding tax shelters to hide his cash. Every business he has owned or been a part of has either shut down or is running in the red. So when a group of NY “investors” approached the lyricist about an idea to invest in a NYC casino and slot machines, Jay Z jumped at the chance.
But, according to ContactMusic, the Jigga man pulled his investment after NY gaming officials apprised him of new rules which will force all the investors to submit comprehensive records on their own finances, and those of their spouses.
According to insiders, the new rule was created specifically for Jigga and his bridezilla, Beyonce as part of an ongoing undercover probe into the couple’s shady financial dealings.
The order would have meant Jay Z and his wife Beyonce would have to turn over their income records to the state. And with Beyonce already under investigation for racketeering and other federal charges, Jay Z didn’t want to risk the state getting wind of any of his and Bey’s crooked dealings.
But once the state comes sniffing around your finances, they usually don’t back off. If they don’t get him now they will get him later.