Akon’s Rep Responds To Former Business Partner’s ‘Ponzi Scheme’ Claims


Music industry veteran Devyn Stephens is suing Akon for allegedly scamming him and asked a judge to freeze all of Akon’s assets.

But Akon’s rep says the allegations are fake news.

In a statement to Page Six, the rep said that the claims about Akon’s business are “not based on any evidence,” adding that the claims are about a previously dismissed claim in connection with the allegations. “They are nothing but innuendo and speculation, made by someone who had a claim against Akon dismissed,” the rep said this week, adding that Akon is “proud” of the work he’s doing for Senegal. 


Akon is currently trying to get investors to help finance his $6 billion project to turn an oceanfront village in Senegal into a Wakanda-like city that would run on a cryptocurrency called “Akoin.” 

Devyn’s lawyer hired a retired federal Special Agent Scot Thomasson, who reviewed the plans of Akon’s new investment and he found, “Akon City and Akoin show many of the trademark characteristics (known as ‘red flags’) of fraudulent business ventures such as Ponzi schemes and pyramid schemes.” 

“Akon has provided almost no transparency about who is investing in Akon City or how it will be purportedly built. Therefore, Akon City is likely a scam,” the lawyer wrote, citing Thomasson’s affidavit.

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