Lil’ Wayne Stiffs Jeweler $146,000

Dwayne MichaelCarterJr., the Miami Beach-based rapper known as Lil’ Wayne, treated himself to a $138,000 diamond ring and $32,000 gold-and-diamond necklace — but failed to cough up the cash money. So says a lawsuit filed in Miami-Dade Circuit Court. Carter, 25, multimillionaire president of Cash Money Records, owes $146,000 on the $170,000 purchase, the complaint alleges.

Plaintiff is Jack Sutton Fine Jewelry in New Orleans, Carter’s hometown. Jack Sutton,

48, third-generation store owner, says Carter bought the items on Oct. 6, 2006. They cut the deal by telephone, Sutton says, after he described the pieces to Carter, a longtime customer.

”I’ve been doing business with him for at least 10 years,” says Sutton, who caters to rappers and athletes. “He’s always been wonderful with paying me.”

The handmade platinum ring contains an 11.55 carat, princess-cut diamond surrounded by an additional five carats of invisible set princess diamonds. The 32-inch necklace is draped with ice — four rows deep, 105 carats total weight — in 18 karat white gold.

Carter agreed to pay monthly installments, the suit says. Sutton received a $24,000 check on Oct. 12. The next $24,000 check was dated Jan. 18. Sutton deposited it, only to learn a stop payment had been issued.

Sutton says he tried to reach Carter, sending e-mails to the artist’s financial advisor. No luck.

Full Story: MH