Woodstock 50 Promoter Says Investors ‘Illegally Swept’ $17 Million

Woodstock 50 Promoter Says Investors ‘Illegally Swept’ $17 Million

Woodstock 50 promoter Michael Lang says his former business partners “illegally swept” $17 million from the festival.

Financiers Dentsu Aegis released a statement near the end of April claiming that the festival was canceled. Lang, however, released his own statement denying the reports and insisted that the festival would continue without them.

Lang now says Dentsu are trying to “suffocate and kill” the anniversary event. In a five-page documented obtained by Rolling Stone, he wrote that Dentsu had “illegally swept approximately $17 million from the festival bank account.”

“We also have evidence that Dentsu representatives have gone so far as to say that should the talent back out of Woodstock, they would be seen favorably by Dentsu and that this could result in their performing the 2020 Summer Olympics in Tokyo, where Dentsu is a major organizer,” he continued. “In these actions too, Dentsu has acted not only without honor, but outside of the law.”

Read the full story on Rolling Stone.

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