On Tuesday (October 29), it was reported that Lil Yachty was being sued for $200,000 by Guven's Fine Jewelry for breach of contract. According to Bossip, Yachty sent the jeweller a check for $70,000 that bounced and when the rapper was contacted about it, he gave excuses for why he was unable to pay for all the jewelry he had received. “..Bro if I had it I would give it to you,” Lil Yachty allegedly wrote in a text. “I’m not gone hold u (sic) out if I had it just to give. I have had many bills to pay. Taxes, debt, etc…All that money went instantly. The teeth I just got I traded jewelry for.”

A few days after the lawsuit made headlines, Yachty took to IG Live to dismiss the jeweller's story as inaccurate. First off, he wanted to clarify that he is not broke, an accusation that floated around social media and left him totally dumfounded. "I been doing this jewelry shit bro," Yachty insisted. "I don't play around with my jewelry bro... I woke up to a n**** saying that I went... I can't even say the b-word bro... n**** say I went the b-word. Bro, WHAT? That's crazy."

Then, Yachty broke down what really happened, according to him. It's a complicated scenario so try to follow along. "I've paid Jon over $900,000 and I got receipts cause I don't carry cash. I pay everything with credit and checks... So in the case that I wrote him a $700,000 check - First off, I don't write checks. My mama write checks. I ain't ever wrote that man a check in my life." Yachty claims his mom wrote the jeweller a check for one of her own purchases our of her bank account. However, the check didn't go through because she misspelled the name. When Yachty refused to pay a certain amount for jewelry that had been sent to him because he thought he was being overcharged, the jeweller apparently attempted to cash his mother's check again. 

Yachty expressed his irritation that Jon "went to these little blogs and sent them this fake ass story," rather than trying to settle it in court with him directly. The Quality Control artist vowed to get revenge for Jon trying to besmirch his name. "I promise you gon' hear about this and he gon' hear about this," Yachty said.