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Konami accused of bank loan fraud over Def Jam Rapstar

Konami accused of bank loan fraud over Def Jam Rapstar

We know that Def Jam Rapstar developer 4mm Games is in financial and legal troubles. But the game's publishers, Konami and Autumn Games, are now facing their own court battle, as a bank has accused the companies of fraud over a loan to finance the game.

City National Bank in Los Angeles has filed a claim that it was defrauded of $14 million by Konami and Autumn. The bank accuses the companies of lying about their financial conditions to secure the credit for the game, without ever intending to pay it back as promised. The bank also points out that it hasn't been paid back at all for the loan yet.

Read more: Alleged lies about financial projections, loan repayment »

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Def Jam Rapstar studio in financial trouble

Related Topics – Def Jam Rapstar, Legal, 4mm Games
Def Jam Rapstar studio in financial trouble

4mm Games, the studio behind Def Jam Rapstar, is on the verge of closing. Studio head Jamie King says the company is "rather starved for money," and stretching itself thin as it tries to resolve a Rapstar legal dispute while tending to its own staff as well.

Read more: 'We've also got to eat' »

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Def Jam Rapstar faces legal wrath of EMI

Def Jam Rapstar faces legal wrath of EMI

Music giant EMI isn't happy with the makers of Def Jam Rapstar. And when companies can't resolve their differences ... yeah, court battle.

EMI filed suit in New York federal court last week alleging that developer Terminal Reality and publisher 4mm Games failed to get the proper authorization to use many of the songs in the rap karaoke game, including songs by Kanye West and Lil Wayne, among others.

Potential damages are in the millions »

"So what... after the 5th person finally bought a copy EMI cares ?"
- Dark Drakonis    See all 2 comments



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