Rights to xXx Movie Franchise Juggled in Fraudulent Deals

Dishonesty and deceit causes big bucks for the Chinese ticket company Weying.

By Lucas Van De Graaff, Marketing–

Vin Diesel is one of the world’s most beloved and famous actors, and there’s little wonder why Chinese cinema has joined the many nations trying to cash in on his success. There are plans to make a fourth movie in his xXx series lineup and ticketing and marketing companies around the globe are grabbing at the rights to the movie.

The Chinese ticketing company Weying is the company attempting to snag the rights for xXx 4’s release and the series’s potential future films, but they’ve hit a bit of a snag. Revolution Studios held the rights to this franchise, and in 2017 Weying had the chance to purchase the rights for future films. But counterparty company The H Collective said they had an option agreement with Revolution to obtain the rights and already had 100% control of the future movie rights. Weying and THC decided to do a joint venture for the movie rights to make everybody happy.

Here’s where things get messy—Weying paid their share of the new venture, totaling $6,155,000, but THC only paid $2,045,000 of their share, less than half of what they promised to pay. Then in 2018, Weying made the “shocking discovery” that THC not only failed to pay their full six million dollars but also never even had the rights to the movie in the first place. And on top of that, THC never even had the capacity to obtain 100% of the rights. Not something you want to find out after sinking a cold six million dollars on a project.

The catch was that Diesel Entity (a name surely only suited for a heavy metal band) had the exclusive rights to approve or deny any transfer of rights for future films, something that they had not done yet. To make matters worse for Weying, Diesel Entity was also able to obtain further control and approval powers over any rights of the film, none of which Weying allegedly knew. This, along with more payment debacles about other stakeholders not coming through and further “numerous unauthorized investment transactions”, has resulted in the devaluing of their share of the films. They are suing THC on charges of fraud, breach of fiduciary duty, conversion and breach of contract. If both parties had participated in an honest and open conversation, divulging all of the relevant and important details left out during initial conversations, all of this wouldn’t have happened. But this didn’t happen and with so much money in the mix, it should be in the best interest of both parties to use any method necessary to figure out the details immediately, such as using an EyeDetect®-assisted interview on both parties about all the relevant information they may or may not have been withholding. Both parties could find out in only 30 minutes who is telling the truth with EyeDetect’s help and innovative technology.

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Photo by /Christian Wiediger