Famed music producer, rapper and songwriter Jermaine Dupri was recently slapped with a $1.9 million lawsuit and rights to songs from his So So Def label are now on the line.
Dupri has struggled on and off with debt over the years. According to the Atlanta Journal-Constitution, the mogul has faced foreclosure on his $4 million Atlanta mansion twice. He was able to save his home when he recently managed to pay off the remainder of a $3 million tax lein, but this new lawsuit could prove more devastating.
Dupri reportedly took out a $4.9 million loan with SunTrust Bank back in 2009. The bank claims that he had paid off nearly half that amount when payments ceased altogether.
According to the lawsuit, Dupri backed the loan, which he took out in order to help payoff outstanding taxes and liabilities, with the copyrights to music and songs from his So So Def catalog. The catalog contains songs by Lil Bow Wow, Xscape, Da Brat, Jagged Edge and more.
The bank allegedly tried to make a deal with Dupri pre-lawsuit which involved the acquisition of certain song rights in exchange for removal of the debt. The deal fell through for unknown reasons.
This has been a rough last month for Dupri who wrote an open letter to fans after losing "the son I never had," Kris Kross member Chris Kelly, on May 2nd. We're hoping this talented and prolific hitmaker can pull through.