Young Buck’s Ex-Manager Denies Any Wrongdoing, in Light of Planned Lawsuit

With news of Young Buck’s legal team planning a lawsuit against his former associates Curtis “50 Cent” Jackson, G-Unit Records and ex-business manager/accountant Bruce Seckendorf, XXLMag.com contacted the Nashville rapper’s prior CPA to get his reaction to the proposed legal case.

Mr. Seckendorf—who runs LL Business Management, Inc. and whose clients have included Fif, Eminem, Joss Stone and Nick Carter, among others—isn’t losing any sleep over the possible court dates. “Clearly, I’m not worried about it,” he told XXL. “I don’t think it has any merit. I know I did nothing wrong. I’m not going to talk specifically about how he [Young Buck] spent his money, but I view my job as the gatekeeper. Money comes in [and] we pay bills. He made his own financial decisions.”

“[This] isn’t a situation where we invested money in a real estate deal that went bad or we put money in a stock market and we lost half of it,” Seckendorf continued. “With an account like that it was clearly money comes in, we’re gonna pay your bills. ‘I think your bills are too high,’ ‘No, they’re not,’ type of conversation. ‘I’ve got it under control,’ ‘Okay, this is where you are though.’ And he would prioritize what would get paid.”

Seckendorf says he was fired by Buck on March 15 of this year, close to five months before the August 3 IRS raid of his Henderson, TN house by federal agents, after he failed to pay roughly $300,000 in back taxes.

At the time Buck released a statement blaming his financial troubles on his business associates. “This IRS situation came about because I trusted accountants, lawyers, and managers to handle my business for me while I focused on making music,” he said. “From now on, I am going to stay on top of my own business.”

Seckendorf replied to those comments by saying that Buck failed to follow his guidance concerning his tax troubles. “ I totally knew what he owed the IRS and I was keeping them at bay,” he explained. “Buck let me go on or about March 15, 2010. Around that same day he retained [another] business manager/accountant… I sent an email [to the new person] saying David Brown owes this money to the IRS. You need to address immediately… I’m paraphrasing, but [I wrote] don’t ignore it, you need to attend to it.”

“I don’t know what was done between March and the day they raided his house, but he didn’t just owe this money for months,” he added. “Under my watch this money was owed for at least a year, if not longer. So I’m just patting myself on the back, I kept them at bay. I advised him how we need to attack this, setting up a payment plan, [etc, but] he let me go. The new guy’s supposed to run with it. What takes place after March and when they raided his house, I can’t comment on. But I can tell you, chances are, they ignored the IRS and that’s what’s gonna happen when you ignore the IRS and you owe them a lot of money.”

When reached by XXL, Buck was unavailable for comment, but his publicist Nancy Byron said, “There is no lawsuit filed yet.” As previously reported, YB did file for bankruptcy earlier this month.

Stay tuned to XXLMag.com as the story develops. —Jesse Gissen

  • http://www.myspace.com/kilaspage KILA

    Keep yo head up Buck keep dropn that straight street muzik for all the d-boys down here in tha Dirty Dime: Ten-A-Key (for those who don’t know what thats means).

  • getbizzy

    smfh you see how buck’s former accountant/manager Mr. Seckendorf still stuck up for him in this interview after the FACT that Buck made terrible financial decisions, failed for follow his guidance n fire him March of this year. smfh

    Mr. Seckendorf didnt have to email Bucks new accountants “new guys” n give them a heads up regarding the IRS raid but he did anyways n they failed to do what he did for the PAST 2 YEARS which was keep the IRS at bay.

    sounds like this case has no merit.

  • Sha

    I should probably say this first. I’m not a Young Buck fan. And I absolutely am tired of G-Unit and their arrogance. With or without Young Buck.

    That being said…..

    Buck is making some smart moves. Contrary to what people think, these moves are solid and are those of an intelligent person (I’m speaking of his legal team and not Young Buck). Let me explain…

    First, we don’t know what kind of dirt will come out of this. We don’t know what lies Young Buck has told (to his attorney or to G-Unit). I’m sure shit will come out.

    But this is a smart move for several reasons.

    First: If you are going against an employer with a limitless source or income, media connections, and outright complete freedom to make any move across the board, what do you do? You can’t fight fire with fire because you ain’t holding none of those chips. Well….

    You do as Buck has done. You hire competent people (at least they seem to be). You get a good attorney who knows the value of your name and the value of tarnishing a giant’s name. And you get them for pennies on the dollar.

    What makes me think that Buck got this attorney for cheap? Three letters….. I.R.S.

    Not only does the attorney know about his financial troubles, this attorney can’t come after Buck with tremendous fees and demands because the laws of Bankruptcy prevent such exploitation. So this attorney has a vested interest in getting a victory from Mr. Curtis Jackson. And I doubt the attorney would have taken it if she didn’t analyze this. And so what if Buck can’t pay? This lawsuit will get much media coverage and other people will solicit.

    Also….

    50 Cent is a huge target. He isn’t the same giant he was. Last I heard, he just signed a new distribution deal for G-Unit Records. Who knows what kind of dirt Buck has? But if it’s substantial enough, no artist in their right mind will fuck with 50. And this is not a good look for 50. His clothing line is floundering. His records aren’t even close to the level they were. And how many time “Brick” did the last G-Unit album go? Not to mention 50 has alienated 70% of the industry.

    Like my man Sun Tzu says….. “If a battle can’t be won, don’t fight it.” But I assure you…. 50 could win this fight and lose the whole fuckin’ war.

    And other people have talked about what Buck owes 50. Dudes, please. Bankruptcy is a beast. It can kill any debt. Big or small. How else do you think Donald Trump kept so many chips?

    I can’t speak on Buck’s personal intelligence because I don’t know the man. But this is a very very strong beginning. Much stronger than I could have imagined.

    • Afi K. James

      You speak the truth here.

  • SOMETHIN NEW

    I just wanted to say that when it comes to your paper,the only person you can trust with it is yourself.My advice is that if you’re making alot of money,it’s always best to put some away for a rainy day.I think Buck just got caught up in all the glitz of having alot of money that he failed to make sure that his financial situations were being dealt with.

  • allison187

    what ignorance!!!! you guys are so busy hating on 50, it’s pathetic. you act like he “personally” did something to you. buck’s situation is NOT 50′s fault. why is he even mentioned in your comments? if you want to mention him that bad – then mention how he started buck’s career, mention how he paid his previous tax debts, mention all the money made buck made when he was with the group, mention how buck screams at his concerts “fuck g-unit” while still a part of the group. now you wanna whine about how fif is stopping this man from eating?? gtfoh! BUCK WAS DISLOYAL!!!!!! he got everything he deserved.

  • http://www.bboycult.com Don mcCaine

    good posting there Sha.

    But Mr Seckendorf blew a hole in your smart legal team statement.

    “50 Cent is a huge target. He isn’t the same giant he was. Last I heard…”

    ^ don’t see what that paragraph has to do with Buck’s bankruptcy.

    Like I said yesterday, 50 will show an invoice of monies owed, they (lawyers) will negotiate a deal, and Buck will be free. But his mainstream music career is pretty much over.

    This whole ordeal is about Young Buck mishandling his finances, and not being in control of his career. Not a 50 Cent/G-Unit witch-hunt.

  • GIFT

    I am an aspiring artist, and one thing I seem to learn from these cats in the game, is save yiour fuckin dough, and pay your taxes. What’s sad is that when niggas recieve lump sums of money, they can very easily pay their taxes or at least a good portion of their taxes up front to avoid shit biting them in the ass later, but they don’t. Y hire a financial advisor and not take their advice when it’s obvious that the IRS wants YOUR SHIT!!!!!?

    I love buck as an artist, but as a business man, that nigga needs to learn to handle his finances, before he even half way considers trying to start a label. I wouldn’t sign wit no nigga that’s evading the IRS.

  • Sha

    @Don mcCaine….

    I always read and appreciate your responses and I am always open for criticism. Thanks for the props.

    As for your statement that you don’t see what this has to do with bankruptcy….

    My entire posting was mostly about strategy. Buck could lose. Big time. But as an avid chess player, I have to admire this move. It protects Buck on so many levels.

    Buck could very well be irresponsible with his finances. Can’t argue that. But this is a dope move that even a general or a foot soldier can appreciate.

    And yes, this absolutely goes back to 50. 50 black balled dude. 50 played the tape. 50 refuses to release any new material.

    Yeah, Buck’s mouth got him in a lot of trouble. But as bad as the employee is, an employee always has rights that a employer must adhere to. NO MATTER WHAT REASON. IT IS THE LAW.

    • http://www.bboycult.com Don mcCaine

      “The Tennessean newspaper reports that a judge has accepted the rapper’s proposal to dock his monthly pay from Cashville Records by $12,500 over 60 months for a total of $750,000.

      The rapper, whose name is David Darnell Brown, could save a large portion of the $164,000 in property the IRS seized Aug. 3. The IRS says he owes the agency more than $300,000.

      Chapter 13 filing allows a five-year repayment plan for unsecured creditors to recover part of what they are owed. Other creditors include the state of New York, American Home Mortgage Service and Wells Fargo Auto Insurance.”-Comcast.net

      ^

      He has a company that is obviously making more than 12K a month. So why wasn’t he paying his mortgage & auto insurance?

      This is more about Buck, and less about 50 and his antics. Perhaps we will see that 50 was looking out for him more than sh^tting on him.

  • Rated R

    50′s paperwork must be tight with Buck because Buck hasn’t released any new mateial, officially. If he was really about that money, he would have drooped a whole new studio album under a new name, like YB, if it wasn’t already taken or copyrighted by another artist. I don’t know how much cash he can get from mixtapes, but that doesn’t seem to be working either. What happened to his line of watches?

  • Pingback: Young Buck’s Ex-Manager Emerges From Shadows, “I Totally Knew What He Owed The IRS” | Cash Money Artists

  • CARTEL

    Listen, I don’t know much about what Young Buck was doing with his money, but it sounds like he was just blowing it…Now, most rappers fall victim to this…All I have to say and it’s the most sound advice and realest thing I can say to anybody getting their hands on large sums of money….PAY YOUR FUCKING BILLS FIRST!!!!!…Buy all the other bullshit after….Look at sum money market accounts and see who has the best rates…Last I saw CAPITOL ONE was giving 1.3%…doesn’t sound like a lot does it…well, if Buck would have invested a Mil into that, it would have been at least $13,000 a month that the bank would have given him for investing that mil…We need to pay attention to the real purpose of money and stop focusing on what fantasy shit we want…We get money and already know what we wanna spend it on before we think of what we wanna INVEST IT IN!!!

  • CARTEL

    forgot to say NO HOMO…for sum of u dumb muthafuckaz…LOL

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  • sexymama

    when buck started he was young, hungry, and just ready to show the world what he had. being young living in the projects with a single parent all he seen was the oppurtunity to help his mom and family. its clear to us now, but at the time it wasent clear to know one.imagine someone you looked up to who been in the game and know the game coming to you with a deal and money you never seen before you are going to take it. so fuck what all yall talking, buck my nigga and im riding with him till the end what falls down must come up and someone said how much can you make off of mixtapes?good question so why you reading about him go cop his mixtape the rehab @youngbuckmarley.com all support appreciated. I LOVE YOU BUCK AND YOU SHOULD HAVE AN IDEA ON WHO THIS IS MUAH

  • sexymama

    I CANT WAIT TILL HE GET BACK ON HIS SHIT AND SHINE LIKE THE STAR HE IS FOR ALL YOU HATERS, BUT YALL BEST BELIEVE MY BABY WORKING. AS HE WOULD SAY $100 SWWWWWWIIIIIIIIIIIIIISH WHATEVER HE DO. LOVE YOU BUCK