DJ Khaled’s decision to spend chunks of his bankroll on jewelry has led to nothing but 14kt struggle.
After jewelers-to-the-rappers Rafaello & Co. (the same guys who just helped Meek Mill wow Nicki Minaj) slapped the We The Best mogul with a lawsuit in March for not paying his bills, Khaled Khaled is firing back, accusing them of sending him some fugazzi Donnie Brasco stones.
DJ Khaled has accused a famous jeweler of ripping him off to the tune of hundreds of thousands – by lying about the actual value of the bling they sold.
Earlier this year, New York Jeweler Rafaello & Company filed suit against DJ Khaled for never returning two Rolex watches, a custom-made diamond chain, a pair of diamond earrings and a four carat diamond ring.
The jeweler claimed the deal stated DJ Khaled had 15 days to check out the items. If he liked them he would pay for the bling, if not he would send it back. The jewelry company said Khaled never sent back the jewelry but he also never paid up despite several demands for the $100,000 owed, so they filed suit for the amount owed plus damages.
Then recently, Khaled fired back at the jeweler’s lawsuit, accusing him of stiffing them to the tune of more than $100,000. The DJ denied all allegations that he owes the company money for the bling and then he filed a counter-suit against them for fraud.
Khaled states that from 2008-2013 he did business with Rafaello &Co. – purchasing everything from watches, jewelry and custom made pieces for himself and as gifts. He says over the years he was never once invoiced or even given a receipt when he did return items.
The DJ says the invoices the jeweler attached to his lawsuit are fraudulent and were created well after the actual purchases.
Then he says he purchased a custom made jewelry piece for $110,000 that was represented as gold Cuban link chain with 98 diamonds, which came with a certificate and appraisal, which he says turned out to all be fake. Khaled says he even took out a insurance policy in the amount of $240,000 to cover the $110,000 piece, and paid premiums on the policy for two years. But it turns out, the necklace was worth less than $30,000.