A long -born -headed beverage startup, The3rdbevcohas been sanctioned with a fine of 1.1 million dollars from the US stock and values commissionfor its acronym in English), having cheated investors with false statements about an alleged collaboration with the superstar Rihanna To launch a rum brand called Riri Rum.
According to judicial documents presented on June 17 and of which Eco Billboard, the company and its founder, Peter Scalise III has been made, would have allegedly used the image, music and even a falsified firm of the singer of Barbados in presentations to attract investments. Although The3rdbevco signed a letter of intention with Rorrey Fenty, The singer’s brother, to act as a strategic consultant, there was never any agreement, negotiation or contact with Rihanna or her representation team.
The SEC arises that Scalise And his company allegedly lied to investors for 2022 and 2023, ensuring that they were developing the product in direct collaboration with the Barbadense artist. In their promotional materials, they used the commercial name Riri, registered trademark of Rihanna, without authorityin addition to including songs, images and a falsified firm of the singer.
Rorrey Fenty, who initially showed interest in collaborating as a consultant, never came to work formally with the company. In fact, according to the complaint, he expressed concern about the unauthorized use of his sister’s image and asked Scalise to cease in his deceptive statements. Finally, the letter of intention was annulled.
Neither Rihanna nor Rorrey are accused of having participated in illegal activities. The SEC made it clear that the artist had no knowledge or relationship with the fraudulent project.
In addition to the improper use of Rihanna’s image, the sec accuses The3rdbevco of selling unregistered shares of the company and embezzling about $ 900,000 of investor funds, which were allocated to personal expenses such as university registrations, mortgage payments and gardening.
The fine imposed seeks not only to sanction those responsible, but also send a clear message to other emerging companies that could be tempted to use similar tactics to attract capital.
For its part, Rihanna has not issued public statements about the incident. The artist, who has built a business empire With brands like Fenty Beauty and Savage X Fenty continues to be one of the most influential figures of entertainment and business globally.
