Kylie Jenner’s billion-dollar net worth has come into question lately. Does she face jail time because of it, as one tabloid claims this week? Gossip Cop investigated.
of her wealth after it claims she and her accountants provided false documents inflating her net worth. This week,decided that would be a juicy story for its cover, alleging, among other things, that the makeup mogul faces up to five years in prison for fraud.
At the heart of the matter is tax records provided to the magazine when it was reporting the original story. Those documents, it maintains today, were falsified or fake. Using publicly available information about the sale of 51 percent of her makeup brand, Kylie Cosmetics, the magazine amended its previous assertion and re-evaluated Jenner’s net worth to under a billion dollars — though, she’s still very, very rich.
The most dubious claim in the piece by far is the threat of prison. The tabloid quotes a “Beverly Hills attorney” — one that does not represent Kylie Jenner — as saying that Jenner’s “discrepancies could spark a Securities and Exchange Commission investigation," which could mean legal trouble. “[If] the sale was a misrepresentation from the beginning [and she made] herself seem like she was worth more, it’s securities and investments fraud,” the lawyer explains.
But second is the jail time allegation. While it’s true that if Jenner lied on the tax return or about the value of Kylie Cosmetics to the company that purchased the 51 percent stake, then yes, Jenner would be in some serious hot water. But that’s not whatstar. The financial publication is reporting that they believe Jenner and her representatives lied to its reporters.
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