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*Back in October 2010, Ryan Leslie lost his laptop while overseas and immediately offered $1 million dollars as a reward to anyone who returned it.
The singer/producer thought the laptop contained his unreleased music so he was thrilled when a man by the name of Armin Augstein found the laptop and returned it to him.
Sadly, Leslie didn’t live up to his end of the deal, as he refused to pay up after realizing that the unreleased music he thought was on the laptop was actually not there.
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Armin sued Leslie for breaching the million dollar reward and won. As reported by The Blast, a jury ordered Ryan to pay Augstein $1.18 million dollars in damages. To avoid paying, Leslie quickly filed for bankruptcy and Augstein has been fighting to get his money ever since.
In the latest update, Leslie gave up his rights to his entire music catalog in order to settle the case.
via The Blast:
Both parties came to the agreement that Augstein will receive all interests in Leslie’s musical rights and future royalty payments. Augstein will be entitled to receive up to $538,000 from the royalties and if after six years he has not earned up to $300,000, he will continue to have access to those rights until he is paid in full. Afterwards, Ryan will then be granted back his rights to his catalog.
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