The incident that led to the arrest occurred at a record release party for Q-Tip's solo album, Amplifiedin, at Kit Kat Club in N.Y. At the party Unentertainment head, Lance "Un" Rivera, was stabbed. He was rushed to near by St. Vincent Hospital and was later released. The second victim was reported to have been punched in the face, but his injuries we not serious. Soon after the incident police we looking for Jay-Z and another unnamed individual as suspects in the stabbing and assault. 

Jay-Z has been charged with one count of assault, one count of criminal possession of a weapon (a knife), and two counts of assault two. He was released on Dec 2nd on $50,000 bail.  If convicted, the rapper faces up to 25 years behind bars. 

His problems do not end there. Lance Rivera may seek damages in a civil suit as well. He is reported to be discussing the issue with his lawyers and is expected to issue a statement some time this week. 

Jay-Z issued a statement denying that he was involved with the incident.