Jay Z subpoenaed by Securities and Exchange Commission in securities fraud probe – HipHopOverload.com

The Securities and Exchange Commission has issued a subpoena compelling JAY-Z to testify in a federal securities laws probe into Iconix Brand Group Inc.

In 2007, Iconix paid JAY-Z $200 million acquire assets Rocawear.

This is the third time the SEC has subpoenaed HOV in their investigation Iconix’s financial reporting practices.

So far he has refused to testify and has declined to provide additional dates for when he could appear in court. If he continues to do so, the SEC could seek sanctions against him, even though he isn’t implicated in Iconix’s fraud.

Hov’s representative explained why JAY refuses to appear.