The famed music producer formed a car leasing company and used another company -- Metro-Gem Leasing and Funding -- to bankroll the venture.
Metro claims it plunked down millions so Swizz's company could snag the fancy cars, but over a 3 year period screwed them out of millions.
The suit mentions Swizz's wife, Alicia Keys, claiming in 2013 Swizz and Alicia started leasing some of the vehicles for personal use. She is not named as a defendant in the lawsuit.
The suit alleges massive fraud with 27 vehicles. Metro is asking for $42 mil in damages.
Swizz has responded, "People just do and say anything these days for $ Wow! The crazy part is people also believe anything these days SMH! Going back to bed.