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AKA settles gifted Rolex wrist-watch debt to avoid repossession

AKA finds himself in a debt pit which he had no knowledge of before time until now. Prince Costinyo who happens to be his business partner while still a part of Beam group gifted the rapper a Rolex Wrist watch worth, R370,000 in the year 2016.

The jewelry company who sold the wrist watch to Prince, notified AKA of this huge debt. However, AKA has taken necessary actions in paying off the debt.

The Fela In Versace hit maker told Sunday World that as soon as he was made aware of the debt he personally made an initial payment of R100,000 and then a second payment of R50,000.

“I am good to settle any debt incurred by Beam Group up to my share of ownership. It was, however disturbing to be notified with written evidence of arrangement between my former partner business partner and the Schofield brothers dating back to December last year – that what was publicly gifted to me has been unpaid.” He said.

Updated: November 26, 2018 — 3:41 pm

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