Rapper Nelly has spoken out about recent allegations that he's spent all his money on drugs and gambling.

A Twitter beef between Nelly and a man name Slim occurred last week, when the Missouri native fired off at Slim for trying to book him for an appearance at a basketball game in St. Louis. In retaliation Slim, who also claimed to be Nelly's manager, tweeted that the '5.0' creator was broke due to a gambling and drug habit and also alleged that he was close to foreclosure on his home.

"#FACTS u broke you spent yo whole fortune on #coke #steroids #ashanti #PILLS and at #HARRAHCASINO, u prolly there now!" Slim's tweet read.

In response, Nelly fired back via Twitter, stating that Slim wasn't his manager, but a promoter who he'd worked with in the past and that his claims were false.

"First if you believe Slim was my manager then this is pointless anyway. Second don't nothing go in this body but fish, chicken, turkey, protein, ROZAY, Ciroc, Remy and Budweiser! Third, Ino some hoping that foreclosure statement is true but I'm sorry, 'epic fail!' Anytime anyone in STL wanna match deeds or pinkslips HOLLA! #FACTS," Nelly wrote.

Nelly is currently working on a new LP that he plans to release before the end of 2011. This will mark the rapper's seventh studio album.

Watch Nelly's 'Just a Dream'
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