Patrick Allocco and his son were held under arrest after an Angolan concert promoter wired Allocco $300,000 to secure Nas for a New Year’s Eve gig, then Nas didn’t show.

Nas eventually returned the money and the pair was released, but the elder Allocco claims the damage was already done.

An attorney for the promoter told NJ.com Allocco was “basically financially ruined by the whole thing” and will file suit for breach of contract and damages.

“The fallout for us has been almost devastating,” Allocco added. “We cannot climb out. We can’t get out of the situation we’re in.”

Exactly how Allocco and his son got into the situation has been a point of contention between the promoter and the rapper.

Nas told MTV earlier this year that Allocco didn’t have things in order prior to the show in Angola.

“Basically he was a promoter that I never worked with, and he wanted me to come to Africa for New Year’s, which, for me, I thought, would be the best way to spend New Year’s,” Nas said. “The business wasn’t handled. There was nothing sent to me, and there were no flights,” he said.

“By the time he did send money – he did eventually send money to me – but it was too late to go. I didn’t even have a visa to get in the country. So that’s canceled, the show’s canceled.”

Allocco has since denied the rapper’s allegations. He told NJ.com that while he still owes $75,000 to the Angolan promoter and money to the U.S. government for nonrefundable plane tickets that were never used, Nas’ career has seen a resurgence.

“Now he’s performing at Radio City and we’re trying to figure out how, and if, we’re going to survive as a company,” he said.