Ice Cube and Jeff Kwatinetz are suing a group of Qatari nationals for $1.2 billion, claiming the investors boasted of connections to the royal family and its riches, but paid little more than half of the money they agreed to invest in the 3-on-3 professional basketball league.
Ice Cube and Jeff Kwatinetz are the founders of BIG 3 filed a law suit on Thursday in Los Angeles Superior Court against Qatari nationals over investment.
Ice Cube and Jeff Kwatinetz claim that one of the investors spread a false and harmful rumor about Kwatinetz, referring to the league’s African-American players as “Rich Nigg*s,” racist language he said he “never had and never would” use.
They also accuse the investor group of defamation, libel, and interference with contractual relationships.
Qatari Nationals and investors of BIG 3 include; Ahmed Al-Rumaihi, a former Qatari diplomat and head of Qatar Investments; Faisal Al-Hamadi, managing partner of Ory Capital; and Ayman Sabi, a Libyan-born American citizen who claims to be a board member of the Qatar Investment Authority. Sheikh Abdullah bin Mohammed bin Sau Al Thani, chief executive of the Qatari Investment Authority.
They have been slapped with a $1.3 billion lawsuit over investment and other related issues as stated above.