{"id":214390,"date":"2026-03-06T14:03:48","date_gmt":"2026-03-06T21:03:48","guid":{"rendered":"https:\/\/www.shockya.com\/news\/?p=214390"},"modified":"2026-03-07T11:51:39","modified_gmt":"2026-03-07T18:51:39","slug":"jay-zs-marcypen-entangled-in-uncle-nearests-20-million-fraud-scandal","status":"publish","type":"post","link":"https:\/\/www.shockya.com\/news\/2026\/03\/06\/jay-zs-marcypen-entangled-in-uncle-nearests-20-million-fraud-scandal\/","title":{"rendered":"Jay-Z’s MarcyPen Entangled in Uncle Nearest’s $20 Million Fraud Scandal"},"content":{"rendered":"\n
\"\"<\/a><\/figure>\n\n\n\n

The $20 Million Shell Game: How Jay-Z’s MarcyPen Got Caught in Uncle Nearest’s Financial Implosion<\/em>

The once-celebrated whiskey brand Uncle Nearest <\/strong>\u2014 built on the legacy of America’s first known Black master distiller, Nearest Green<\/strong> \u2014 is now at the center of a federal fraud fight<\/strong>. And the $20 million<\/strong> at the heart of the latest accusations runs directly through an investment entity tied to Shawn “Jay-Z” Carter<\/strong>.<\/p>\n\n\n\n

Court filings reviewed by Media Take Out<\/a> reveal that an investment group called MarcyPen<\/strong> \u2014 Carter’s venture capital firm<\/strong>, formed through the 2024 merger of his Marcy Venture Partners and Pendulum Holdings <\/strong>\u2014 provided $20 million<\/strong> to Uncle Nearest through a convertible note agreement that was never disclosed to the company’s primary lender. The court-appointed receiver has accused founder Fawn Weaver<\/strong> of moving nearly all of those funds into a bank account controlled by a separate entity called Grant Sidney<\/strong> \u2014 an account controlled solely by Weaver herself.<\/p>\n\n\n\n

In sworn testimony, Weaver reportedly admitted the money was structured so it “could not be snatched”<\/strong> by lender Farm Credit Mid-America. The receiver argues this was an intentional effort to conceal cash collateral \u2014 a claim that, if proven, constitutes fraud.<\/strong><\/p>\n\n\n\n

\"\"<\/a>
AI generated image.<\/em><\/figcaption><\/figure>\n\n\n\n

Another Jay-Z Affiliated Company in Freefall<\/h2>\n\n\n\n

The $20 million scheme<\/strong> is only the latest chapter in Uncle Nearest’s financial unraveling.<\/strong> Forbes reported<\/a> that in August 2025, a federal judge placed the company under receivership after it defaulted on more than $108 million in loans <\/strong>from Farm Credit Mid-America. The lender accused Uncle Nearest of inflating barrel inventory to secure additional credit, breaching loan covenants, and diverting funds<\/strong> \u2014 including purchasing a $2.2 million Martha’s Vineyard property with loan proceeds<\/strong>.<\/p>\n\n\n\n

The receiver’s findings have only deepened the picture of financial chaos: nearly 500 transfers between Uncle Nearest<\/strong> and Weaver-controlled businesses, no federal tax returns filed since 2018<\/strong>, $1.8 million in diverted collateral, and the sale of $2.2 million in future revenue for just $1.6 million in cash. Total debts may now exceed $220 million. The receiver has formally accused the company of engaging in “fraudulent conduct.”<\/strong><\/p>\n\n\n\n

“Clear the Shelves” \u2014 While the Books Don’t Add Up<\/h2>\n\n\n\n

As the legal walls closed in, Weaver <\/strong>took to Instagram<\/a> with a defiant public campaign. In a widely shared Reel, she declared: “I built this company, I own this company, I run this company.” She launched “Operation Clear the Shelves,” urging supporters to buy every bottle available to prove the brand’s viability, even telling followers: “When the shelves restock, don’t forget, keep clearing them out.”<\/p>\n\n\n\n

User comments told a different story: “Yuck ? ? ? ? ? ? ? ? did they pay someone to make her this cringe and corny…. holy shyt…I guess when you trash in spirit it always seems through all you do. Next time have some respect for ppl lady.” Another user commented, “So she’s always corny ? makes sense why no one wanted to partner with this clown.”<\/strong><\/p>\n\n\n\n

\n
<\/div>
<\/div>
<\/div><\/div><\/div>
<\/div>
<\/path><\/g><\/g><\/g><\/svg><\/div>
View this post on Instagram<\/div><\/div>
<\/div>
<\/div>
<\/div>
<\/div><\/div>
<\/div>
<\/div><\/div>
<\/div>
<\/div>
<\/div><\/div><\/div>
<\/div>
<\/div><\/div><\/a><\/div><\/blockquote>