{STREETZ MORNING TAKEOVER} R.KELLY ACCUSED OF HIDING HUNDREDS OF THOUSANDS IN A FRIEND’S BANK ACCOUNT

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R.Kelly was denied in an attempt to be released from jail when the judge sided with prosecutors who argued that he was lying about his claims of being broke. The prosecutors stated, “The defendant’s contention that he has ‘almost no financial resources’ is also misleading. In fact, the defendant continues to receive hundreds of thousands of dollars in connection with royalties he is owed for his music. The government’s investigation has revealed that earlier this year, the defendant re-directed those royalties to the bank account of a childhood friend. Regardless of where those funds are being held, however, they belong to the defendant and, at any time, the defendant can redirect those funds – and future royalty proceeds earned – to an account in his name.” Further, “His lack of candor with the Court regarding his financial resources is another factor that counsels against release.” After hearing all of this the judge sided with the prosecutors and R. Kelly was denied his release.

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