Nikko Slapped with New Money Problems
By: Amanda Anderson-Niles
Mimi Faust’s former boo Nikko thought he would make tons of cash from his raunchy video with Mimi, but it was rumored the tape only brought in around $100,000. With his fate on the reality show now in question since he’s no longer dating Mimi, it’s probably not a great time to be hit with a $1 million lien.
The Jasmine Brand reports:
theJasmineBRAND.com has exclusively learned, Nikko has been slapped with a 1.1 million dollar lien, after losing a lawsuit which accused him and his wife of screwing over their music business partners.
A music company named Supafly Entertainment sued Nikko and his wife Margo Simms back in 2008.
Supafly explained in their lawsuit that they were working with a new band named Test Drive with Nikko and Margo. However, the company says they fronted all the cash for the band to be paid to record an album — including promotions, studio time, song writers, production, website etc.
The company said that they then got an offer from Universal Music to sign the band, but Nikko and Margo started making questionable business moves behind the scenes to cut Supafly out of the picture and make a deal without them.
However, the plan backfired and no deal was ever made.
Nikko and his wife are being sued for posting the band’s music on MySpace and having the band perform live at concerts.