Steve Angello facing major lawsuit for alleged fraud
Ex-Swedish House Mafia and respected dance music heavyweight Steve Angello is currently facing allegations of “fraud, broken business contracts, and crimes against property management” by a former business partner and fellow artist. The artist filing the suit has not yet ben publicly disclosed, nor the partnership which took place between him and Angello earlier in 2008. According to the Swedish news outlet Expressen, Angello is being sued for 116 million Swedish kronor, which amounts to approximately 13 million US dollars. The lawsuit claims that Steve Angello’s actions “were deliberate and intentional, knowing that such behavior would damage the plaintiff,” accuses Angello of allegedly covering up the fraud “by constantly repeating, and distorting information.”
The former business partner suing Angello claims that the Swedish DJ had hired him as a business developer, which later became a full-fledged partnership. He additionally claims that he was promised a monthly salary as well as 5 percent of the company shares. How much this monthly salary was has not yet been disclosed.
Steve Angello seems to disregard the matter however; according to Expressen, he has not yet filed counterclaims with the opposing party in court as of yet. Angello is also quoted to have said regarding the lawsuit that it “lacks grounds and is a lot of fabrications and lies…I do not think about this. Had there been something serious, I [would have] been familiar with it. But I do not care. There are no grounds.”
The case is currently being litigated in the Los Angeles County Court. We Rave You will continue to provide updates as the case continues.
UPDATE: According to new information released, there are in fact, two lawsuits filed separately against Steve Angello, one from former Size Records VP and managing partner Jade Maxe Assad, and one from New York based DJ & producer Junior Sanchez. Assad filed for “breach of partnership agreement, promissory fraud, failure to pay wages, and unfair business practices,” while Sanchez filed for “fraud and breach of oral contract,” as well as other charges. The hearings for both cases are set for January and February 2017, respectively. Both Assad and Sanchez are asking for compensatory and punitive damages caused, all unpaid wages, court costs, and the dissolutions of Rebel Productions LLC, Size LLC, Size Records USA LLC, in addition to a few other demands.
Assad had entered into a legal agreement and partnership with Steve Angello earlier in 2008, which then later proceeded to him being promoted to executive Vice President and managing partner. They had acquired Rebel Studios in early 2013 together, which provided the official Size Records branding and image. Assad had also acquired partnerships with the SLS hotel chain and Kanon Vodka, both of which benefited Angello greatly.
Sanchez was brought into Size Records as an artist in 2008 as well, and was promised a 5 percent stake in Size Records in addition to a monthly salary of $3,000 USD. The artist claims he has not received his salary and his share of the equity for the past few months.
Junior Sanchez’s team have released an official statement regarding the matter, which reads, “Mr. Sanchez respects and cares for Mr. Angello and his family very much and considers them friends. Unfortunately in this business sometimes you need to resolve matters in a courtroom and that’s what we’re doing.”
There has not been any word from Steve Angello and his legal team regarding the matter as of yet.
We Rave You will continue to provide updates as the case continues.