Is it true that the rapper Lil Wayne was embroiled in a lawsuit for not paying for diamond jewelry?

Yup it's true that Lil Wayne was sued last summer (2008) for failing to pay his bills at a jewelry store. Jack Sutton, a large scale jewelry dealer based in Louisiana, claimed that Lil Wayne, aka Dwayne Michael Carter, Jr., bought two pieces of jewelry in 2006 - a gold necklace set with diamonds and a diamond ring, and still hasn't paid them off yet. The totally bill for the diamond necklace and ring was $170,000, and according to Jack Sutton, so far the company has only seen $24000 of the total amount of money that the Grammy award winning rapper owes them. Jack Sutton said that his jewelry company had been doing business with Lil Wayne for a decade, and they had never run into problems with him not paying his bills, so this incidence was definitely out of the ordinary. The case went to court, and a Miami judge ruled that Wayne has to pay up what he owes - plus interest, at the rate of 11% per year. According to his lawyer though, the sides reached a settlement and apparently the rapper is just going to return the diamond ring and diamond necklace instead of paying the bills. Maybe he owns enough bling already. Lil Wayne is known to own a $1 million dollar Chopard diamond watch and a black diamond chain worth $200,000. Plus he just got loads of diamond jewelry for his 27th birthday this year, and the real kicker - he celebrated his birthday with a diamond studded birthday cake! Talk about extravagance...

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