In a statement, it was stated that the MJ singer was arrested for allegedly defrauding the company.
It will be recalled that, during the week, many fans were left in complete shock when a video surfaced online showing budding singer, Olurunyomi Oloruntimilehin, aka Bad Boy Timz, being paraded and taken away in handcuffs.
His record label has now given more details about the sad development.
In a statement sent to Sunday Scoop by the artiste’s record label, Annonymous Music, it was stated that the MJ singer was arrested for allegedly defrauding the company.
The statement read, “The management of Anonymous Music is aware of the reports that an artiste signed to the label was arrested in Abuja for allegedly defrauding the label and other parties.
“Anonymous Music entered into an exclusive five-year recording and performance contract with BadboyTimz in 2019. By the exclusive nature of the contract, the artiste is not permitted to, among other things, engage in features, collaborations, recording of masters (songs), performances and/or production of records/recordings with persons other than the label, without the consent or authorisation of the label.
“The label since the inception of this contract has diligently sponsored, financed and promoted every aspect of the artiste’s music career during this period. Under the management of the label, the artiste has received national accolades and nods from local and international stakeholders in the entertainment industry. We therefore find it quite unfortunate and a sad turn of events that the artiste and his manager, Jerry Adibe of Slippery Entertainment, are suspected of being involved in what appears to be the diversion of monies belonging and accruing to the label for their personal use. The label has reported its suspicions to law enforcement authorities; out of respect for the law and for the love of music and the entertainment industry. The label has no interest in this development beyond a desire to see that truth and justice prevails.
“However, we feel that it is also our duty to inform the general public (including promoters, producers, booking agents and other stakeholders in the entertainment industry) to exercise due caution when dealing in the industry. This is also to notify the general public that anyone who wishes to secure the services of the artiste should contact the label directly.
“Kindly note that anyone who deals with or continues to deal with the artiste or his manager, without regard to the caveat contained in this release, does so at their own risk. The label reserves all its legal and equitable rights, and will not hesitate to exercise those rights to the fullest extent of the law.”