got involved very rich, but one famous rapper found out that some pot investments can just go up in smoke.
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Tauheed K. Epps, better known by his stage name 2 Chainz, invested $1.5 million into a Los Angeles cannabis company in 2021 in a deal that quickly went sour, leaving the famous rapper out of nearly his entire investment, according to a lawsuit filed last week in Los Angeles Superior Court. It was first reported by Law360.com.
Epps is a Grammy-award-winning rapper and one of the most successful rappers in the trap style, a genre that originated in Atlanta and is known for slower deep bass beats centered around drug culture. Epps is also a noted fan of weed, appearing in a Vice series that follows him as he samples opulent weed products.
The lawsuit, filed by Antimatter Holdings, an investment LLC, claims that Epps was introduced to the cannabis company by Snoop Dogg’s tour manager Damien Roderick. Eventually, Epps decided to invest in the Pineapple Express dispensary in Hollywood, which was run by the companies Pineapple Ventures, Inc. and PNPLXPRESS, INC.
The dispensary owners told Epps that their store would be open for business by April 2021, but numerous problems delayed opening for nearly a year, with the store not opening until March 2022, according to the lawsuit.
The terms of Epps’ investment gave him a monthly dividend and allowed him to recall 110% of his money at any time with 30 days’ notice. But, when AntiMatter asked for their money back in May 2022, the company failed to pay up, according to the lawsuit. Epps himself personally texted the co-founder of the dispensary, Vincent Zadeh, in December 2022 asking about the money, but Zadeh responded that they were no longer honoring the deal, according to the lawsuit.
The store has since closed, but after publication, Matthew Feinstein, a co-founder of Pineapple Express, told SFGATE that they plan on reopening the location in September. Zadeh and multiple companies related to the Pineapple Express cannabis stores have been sued by other investors and business partners, including one who said the firm never filed its income taxes and owed nearly $1.69 million in back taxes, according to the Los Angeles Business Journal.
Feinstein said in an emailed statement to SFGATE that the lawsuit included false claims, including that Epps was owed money, and said the matter would be handled in arbitration.
Attorneys representing Epps did not immediately return a request for comment
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