Fawn Weaver sues lender over $20M Jay-Z loan claims tied to Uncle Nearest

Fawn Weaver sues Farm Credit, denying claims she hid a $20M Jay-Z loan tied to Uncle Nearest whiskey finances

Fawn Weaver has filed a lawsuit against Farm Credit Mid-America, strongly denying allegations that she concealed a $20 million loan from Jay-Z tied to the whiskey brand Uncle Nearest.

The legal complaint argues that the lender spread false statements about the company’s finances and the movement of funds linked to the investment.

According to the lawsuit, the funds from Jay-Z’s investment firm, Marcy Venture Partners, were properly transferred through Weaver’s company Grant Sidney and directed entirely toward Uncle Nearest’s operations. Weaver’s legal team maintains that the transactions were legitimate corporate transfers and that neither she nor her company personally benefited from the $20 million.

Farm Credit Mid-America previously claimed that Weaver concealed the loan from the lender and a court-appointed receiver overseeing the company’s finances. The lender alleged the funds were routed through Grant Sidney to keep them away from creditors during Uncle Nearest’s financial difficulties.

The lawsuit also disputes Farm Credit’s claim that approximately $21 million worth of whiskey barrels had gone missing. Weaver’s attorneys say inventory and warehouse records show the barrels were accounted for and that the lender had access to those records before making the allegations.

The dispute comes as Uncle Nearest remains under federal receivership following claims that the company defaulted on more than $100 million in loans. Creditors have reportedly filed claims approaching $200 million.

Weaver’s lawsuit seeks to challenge what she describes as a misleading narrative surrounding the company’s finances, arguing the claims damaged the reputation of the fast-growing Black-owned whiskey brand.