The singer has been subjected to a large amount of backlash over suggestions she is manufactured and that her career was paid for by her millionaire parents.
However, 5 Points Records owner David Nichtern - who first signed Del Rey back in 2007 - has defended the star and insisted there is a lot of "misinformation" that surrounds her story.
Talking about accusations that Del Rey's father paid for her career, Nichtern told MTV: "Nobody even fact-checked. For example, her father never had anything to do financially with supporting her creativity.
"I don't know if he was lending her money to live off of, but at least when she was with us, not a penny. I don't know if he's rich or not; I met him and he seemed like a pretty ordinary guy.
"But that whole thing that she was backed by her millionaire dad is a bunch of crap, basically. Certain facts about the record she did with us are completely misshapen."
Nichtern also revealed that Del Rey - real name Lizzy Grant - chose her stage name early on in her career.
He added: "She wanted to be known as Lana Del Rey pretty early on. That was her name, she cooked that up, I thought it was a little wack.
"She was this beautiful young songwriter named Lizzy Grant, it was a cool name. But she wanted to create this thing, Lana Del Rey.
"We put out the album digitally and at first she wanted it 'R-A-Y' and then we did one version of it that way, and then she wanted to change it to 'R-E-Y' so that was now the third name we were using to promote that artist."
He continued: "Shortly after that, her and her new manager came in and said, 'We want to get this off the market. We're going for a completely new deal. We'll buy you out of the deal'. So we made a separation agreement."
Lana Del Rey's debut album Born To Die was released worldwide earlier this week.
> Lana Del Rey to re-release 'lost' Lizzy Grant album
Watch the music video for Lana Del Rey's 'Born To Die' below: