Jay “Young Jeezy” Jenkins and Demetrius “Kinky B” Ellerbee developed a tight knit friendship after serving time at a youth boot camp program in 1995.  After discovering the love of music both shared, the two went on to form Young Gunz Entertainment, Inc, which later became Corporate Thugz Entertainment (CTE).  Young Jeezy, even as Co-CEO, honed in on his rap skills and became the headliner for CTE.  Later signing on with Def Jam Records (under the leadership of L.A. Reid and Shakir Stewart), Young Jeezy’s popularity grew via six solo albums…and millions of dollars soon followed.

 

Fast forward to 2012, word has hit the streets that money troubles are apparent at CTE.  Demetrius Ellerbee filed a lawsuit in Fulton County Superior Court claiming that Jeezy failed to share millions of dollars in profits earned through album sales. According to the AJC, Ellerbee’s attorney Mario Breedlove says his client has not seen approximately $5 million in royalites and advances from Def Jam Records.  Ellerbee’s lawsuit claims that Jeezy “misappropriated” company funds and redirected monies into his personal account.

 

“They were partners,” Breedlove told The Atlanta Journal-Constitution on Tuesday. “They started the company together. They grew the company together. And he’s entitled to one-half.”

 

In addition to the $5 million, Ellerbee is also seeking punitive damages and legal costs.  Comments from Young Jeezy’s attorney has not been released.