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R. Kelly Vows To Help Investors Reclaim Lost Money
Source: World Entertainment News Network
Posted on: April 17, 2008 10:28 MST
Filed under: R&B

R. Kelly

R&B star R. Kelly has vowed to help investors reclaim money from the promoters of a number of dates on his 2007 Double Up tour of the U.S.

A lawsuit was filed against concert promoter Leonard Rowe after it emerged he sold non-existent shares in three of the 38 dates of the tour, which ended in January.

The lawsuit claims Rowe and his Atlanta-based company Rowe Entertainment promised investors half of the profits from performances, in return for a cash investment of $440,000.

Rowe then told investors the shows lost money, and as a result no funds were paid out to them - even though the shows were allegedly profitable.

The statement from Kelly - who denies any knowledge of Rowe’s wrongdoing reads, "I agreed to let Leonard Rowe promote my tour because he convinced me he was an underdog who deserved a chance to prove himself. Like the saying goes, no good deed goes unpunished.

"I have complete sympathy for all of the good people who were swindled by Rowe and I will do everything I can to help them get their money back from him."

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