Jermaine Dupri and his So So Def Productions are being sued for $1.9 million, according to a story in The Atlanta Journal-Constitution. The Atlanta-based rapper-producer-songwriter is accused by SunTrust Banks of defaulting on a loan.
In the lawsuit filed this week in Atlanta, SunTrust alleges that Dupri is in default and owes money toward a $4.9 million loan from 2010. The loan is backed by copyrighted music owned by Dupri, So So Def and other businesses, as well as a building that houses two recording studios.
Dupri’s debt originated in 2009 but was adjusted in 2010. He took on the loan in order to pay income tax and other liabilities, according to a separate court document obtained by The Atlanta Journal-Constitution. Even though the 2010 loan readjustment included adding Dupri’s Southside LLC company as a guarantor, Southside was not named in the suit SunTrust filed this week.
Neither SunTrust nor Dupri, listed as Jermaine Dupri Mauldin in the court documents, returned The Atlanta Journal-Constitution’s messages seeking comment Thursday, according to the paper.
The bank’s suit says that Dupri won’t incur attorney fees if he pays up within 10 days of the filing, according to music.yahoo.com.
One of the most successful producers of the last 20 years, Dupri has worked with Bow Wow, Mariah Carey, Usher and others. Despite his success, the award-winning artist has dealt with money problems before. Foreclosure proceedings were started in both 2011 and 2012 on Dupri’s estate in northwest Atlanta, but The Atlanta Journal-Constitution reports that the foreclosure does not appear to have taken place.
The studio property named in the SunTrust suit was listed as a foreclosure property in November 2012, though Dupri’s Southside company filed for bankruptcy protection before it was auctioned off, according to federal court records obtained by The Atlanta Journal-Constitution.
Dupri has also been hit with federal income tax liens multiple times in the last decade, including a $3 million tax lien he paid off in January.
Ja Rule is worth 40 million he might break a nigga off
when will people learn….STOP BUYING BIG HOUSES WHEN U GET A COUPLE DOLLARS…IT IS THE QUICKEST WAY TO GO BROKE….IT SLOWLY DRAINS YOUR WEALTH …ONCE U GET BEHIND …SHIIIIT HITS THE FAN EVERYWHERE ELSE….
It seems as soon as Hov stops letting them hang on, they fall off.
Right Dash?
what are you talking about? him and jay did one song togther. gtfoh
dudes type anything to say nothin… i aint kno jd was signed to roc a fella?
Never said he was signed to Hov, the had an affiliation, also I don’t know much about the songs they did together, but there is 2 on American Gangster.
http://www.youtube.com/watch?v=K7tvkpE00bo
http://www.youtube.com/watch?v=9pv7GZN_sPM
http://www.youtube.com/watch?v=QI-KjVLS6Uk
I hope this bald loser loses everything.
Just like that dead loser from Kriss Kross
Hateful troll.. your life must really suck to make comments like that just to get attention.
He should ask one of his hip hop friends…he’ll ask Mariah for the bread. Checkout thegrandreport, they got some good stuff on there too
C’mon, get the fuck out of here with that advertising. Won’t help your site to get more visitors..
http://www.youtube.com/watch?v=rhkB95J5c9s
Ja Rule has agreed to pay Jermaine’s debts on one condition… He never raps or produces another song again.
whos ja rule
who cares no one likes this midget. He is wack as a rapper and a producer. He is one of the reasons why kriss kross used a overdose because he cheated kriss kross out of money. Remmember kris kross were just little kids when they became famous.
So fuck SO SO WACK oops i mean So So Def
He didn’t cheat them out of money. They just spent it all.
i thought money aint a thing?
DAMN! How can some people so rich be so stupid to loose it all!1
http://www.youtube.com/watch?v=2T8E09aAOIc
http://www.youtube.com/watch?v=6W1tG-m4NSU
hahahahahahahahahahahahahahhahahahhahahahah
fuck ya niggas PLK!
http://www.youtube.com/watch?v=_B0_RW5oSI4
my buddys half-sister makes $82 hourly on the computer. She has been fired for 10 months but last month her income was $19524 just working on the computer for a few hours. Read more here… buzz54.com
ME AND MY SON AIN’T NEVA GON’ GO BROKE YA HEARD,WE BE KISSIN AND HUGGIN KISIN’ AND THUGGIN’ HA HEARD!BURRRRRR! CASH MONEY PLAYBOI!!!BURRRRRR!! SUCKIN DICKS AND CASHIN’ CHECKS,BURRRRRRRR!!!
YMCMB will never go broke because all of our fans are all gay and we know gay folks make more money and are less likely to be in prison or on welfare.Wu Tang and Kendrick Lamar fans are criminals who don’t know how to read and are stuck in the 90’s.
and you’re still stuck dead broke, your point?
hell yeeeeeah ha haaaaaa!!! I got 100’s of millions nigga,you shouldn’t have been buttfuckin’ them kid rappers in the 90’s,unlike me I was buttfuckin’ grown men like Mel Man,D.O.C.,Snoop Pussy Cat,Scott Storch,Eminem,2Pac,50 Cent,and Daz……that lil nigga from kriss kross killed himself because you used to touch his dick when he was a kid…….bow wow too,shit even me and Snoop assfucked bow wow before we filmed the gin and juice video,ah haaaaa nigga!!!!
I had have 9 surgeries before my ass was ever the same gain.
I got shot 9 times 🙂
HA HA HA YOU MIDGET NIGGA,JAY-Z IS SITTIN’ HERE RIGHT NEXT TO ME LAUGHIN TOO.EMINEM WAS RIGHT ABOUT YOU,HA HA HA HA HA HA HA!!!…HEY DRE,GET THE BABY OIL IT’S TIME TO TAKE OUR STERIIODS AND RUB EACH OTHERS PROSTATES……..BICKY BICKY BICKY BICKY!!!!
you have a disturbing mind
uhuhuhuh
Its my fault haha.. i fed him $ till his shit start to make sense and i can’t help him because i want to be to only black man/rapper with money. i am coming for Diddy and Obama. Bitches
yeah look at my fancy car look at my crib and shit…. Nigga that shit aint yours :00
another Eminem victim.. don’t mess with the smart ass…
lol
ja rule can never get broke, hes bigger than money $$
Ja Rule’s bills pay themselves.
#ruletalk
Time to pay up sir. This is the price for your gay dancing in all those videos and the gay ass voice overs/ vocals etc…
Mr. Combs your next!