Home Celebrity Jermaine Dupri At Risk To Lose So So Def Label
CelebrityEntertainmentEntertainment NewsGossipHeadlinesMusic

Jermaine Dupri At Risk To Lose So So Def Label

12
Spread the love

jermaine

Jermaine Dupri once managed the careers of music giants such as Jay Z, Mariah Carey, Da Brat, Bow Wow and more through his So So Def Label. The one time top producer is now having money issues that could result in him losing his record label.

According to TMZ, Jermaine Dupri borrowed $4.8 million from SunTrust Bank in 2010. He has been able to pay back nearly half of the loan, but suddenly stopped making regular payments to the financial institution. SunTrust has decided to sue the music legend for nearly $2 million as a result of his balance plus interest.

Dupri was able to receive the loan from SunTrust by putting up collateral in the form of copyrights and royalties to records his label owns of artists including Da Brat, Bow Wow, and Xscape.

TMZ reports that this isn’t the first time Dupri has had money issues just this year. The site states that Dupri had recently placed a $3 million tax lien in February and has dodged foreclosure on his Atlanta mansion twice in the past year.

Jermaine Dupri and So So Def recently celebrated the So So Def 20th anniversary earlier this year where former artists of the label came to make an appearance. Jay Z, Mariah Carey, and Da Brat were among the stars at the celebration.

 

Shanika Simmons

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Dilruba

Phasellus tellus tellus, imperdiet ut imperdiet eu, iaculis a sem Donec vehicula luctus nunc in laoreet

Trending Now

Hot Topics

Related Articles

Music

@Lostarr1 Feat. @BIGKRIT – U Don’t Know Me

Spread the love   Producer/rapper Lostarr hooks up with Big K.R.I.T to...

Music

@iAmZuse Feat. @YoungThugWorld – MayDay

Spread the love   You might have never heard of Zuse but...

Music

@COLUMBIABT Feat. @RichHomieQuan – She Crazie

Spread the love   All you crazy ass females out there need...

Music

Columbia BT ft. Rocko | Man in My City Official Video

Spread the love   Columbia BT hooks up with ATL street legend...