Hip Hop super producer Jermaine Dupri who has produced and written for some of the biggest names in the music business including Kriss Kross, Mariah Carey, Da Brat, Jagged Edge, Bow Wow and Usher and many more. Now, Mr. Dupri is being sought after for a loan he took out and has reportedly stopped paying on. Jermaine Dupri recently celebrated his So So Def 20th anniversary earlier this year, in which he brought out stars from his label both past and present and fans were able to enjoy their favorite hits all over again. This all while Jermaine was fighting to keep his Atlanta home from going into foreclosure which he has done after paying off a $3 million tax lien.
Now, the SunTrust Bank is after him for when he took out a $4.9 million loan back in 2009. Jermaine has paid off more than half of the loan but according to the bank he has ceased in paying back the remainder and now the bank is suing for $1.9 million. Also, he backed that loan with the copyrights of his own music and songs from his So So Def label along with his Briarwood Court recording studios.
Jermaine Dupri and the bank did have a deal in place where the bank would acquire some of the music to satisfy the debt but the deal fell through and no details on which catalog the bank had a deal on.
-Kelly J Newson