Jermaine_Dupri

Jermaine Dupri Sued for $2 million, May Have to Sell So So Def Music

(AllHipHop News) Jermaine Dupri may have just celebrated the 20th Anniversary of So So Def but he’s at risk of losing some of over a debt.

In 2010, Dupri took out an $4.8 million loan from SunTrust Bank. He’s since paid more than half of it back but according to a lawsuit brought on by SunTrust the checks stopped coming. Now Dupri is apparently on the hook for $2 million.

In order to pay off the balance Dupri may have to sell copyrights and royalties to the many songs his label owns from artists like Kriss Kross, Da Brat, Bow Wow and Xscape.

This isn’t the first time Dupri has been in the red.  Earlier this year he paid off a $3 million tax lien and had to save his Atlanta mansion from foreclosure twice.

Maybe he could ask his billionaire ex-girlfriend for a solid.

  • therealest1

    Consequences of irresponsible shit.

  • therealest1

    So does his label become So So Sold now?

    • Matt Swan

      someone else said it…..So So Broke

      • * LOL~N

        That was me :)

      • Mob BanCster

        Damn, that’s messed up, mane. smh. Last time I heard about this dude was when either Dem Franchise Boyz was out or when Mariah Carey made that comeback album and they released damn near every track on there as a single, lol. Whichever one happened last, I don’t know…but that boy seem like he went AWOL

  • $18916246

    He got it….Money ain’t a thang..or is it?

    • therealest1

      Don’t believe the hype, his real life situation is an oxymoron of that old hit song. He might have to be switching 4 lanes in a Yugo soon.

      • $18916246

        Ditto that bruh…My mild sarcasm was said to bring light to just that..”REAL LIFE” as you put it . Banks are a means of monitoring the public’s financial status and objective. Who needs someone else to hold their money for them at little to no interest. The irony here is the bank has no interest in seeing you as nothing more but broke. Jermaine having to borrow from a common lending institution was a sign of the end. Pays back half, which is no common task to pay back more than 2million but with a lucrative business in tow. The default loan is worth more to the bank than it would be for Jermaine to pay out the remaining balance to them…sad.

      • NEWSKULL

        really Sad

  • jazzy

    he better ask janet for help.

    • therealest1

      That makes sense since she married a Middle Eastern billionaire businessman. He could make amends with her perhaps because Money Is A Thing now for him.

  • best_believe

    This from a man who used to brag about he still getting Kriss Kross money

  • I remember he used to be legendary in South Beach making it rain during Memorial Day weekend…Now this, my point is proven rappers blow money like there is no tomorrow, come to find out there is a tomorrow, and you have to sell all your sh!t. #epicfail

    • therealest1

      That’s what he gets for ignorantly having a “Money Ain’t A Thing ” mentality.

    • Its a shame strippers don’t give refunds.

  • NEWSKULL

    Keep your head up J.D. …On the real though, Dude is the reason why IRS started to track down Hip-Hop artists with a PASSION… I remember the day the episode of MTV CRIBS with Jermaine aired, dude was showing his frig Full of Yellow Bottles, His Bentleys and what not… Shit couple of Weeks Later the IRS took his car collection, furniture, even computers lmao they don’t play… that was back in 2003 and He had to pay 3Ms to the IRS…

    you would think he would turn things around and start saving but I guess he didn’t want to change his lifestyle through out this years… plus as a producer I haven’t heard a hit from him in years… I think it is also the reason why he is having a hard time…

    • therealest1

      Again, its him having an ignorant Money Ain’t A Thing mentality. He was living beyond his means even though he had the money because he wasn’t preparing for the future, he only lived for the next day.

      He was living like he had a money tree without planning for not having hits in between years.

      • eddieknucks

        That’s the problem with a lot of young cats today. Not preparing for the future. Its like an NFL player. You get paid during the season. When the season over most dudes don’t get paid. When that career over its a wrap. With no investments for the future ya done.

      • ItGoesDownINtheDM

        sometimes its not even that these guys live around the rich and famous so theres alot of peer pressure to keep that LOOK up even when you dont got it … especially for someone like JD who built that Young Rich Flashy brand ………… the image he created is his own worst enemy …

    • UpKeep > Income = Downfall

      *Simple economics

    • Afi Keita James

      End the IRS!

  • See that’s the kind of reality shows that they should have on tv, like MTV CRIB THEN AND NOW” it would be interesting how almost all of those artist have lost it all, or some didn’t even have it to begin with.

    • Definitely a great concept for a show! ^^

      • Yup, I just created a segment on my website discoverdior com I am featuring 1 new artists every week….The first artist that I will talk about is 50 cent. logg in and check it out.

      • Nice layout!

        For all that, you could have linked up with TEAM 4UMF & got paid to blog!

        Either way, throw up a few ads on there & make some $$$.

      • Nice site fella, I like seeing people taking action to better themselves. Well done.

        I just need to give you feedback about your store, do some research about your target audience and avoid the spray and pray approach. It makes the site too busy. If you were to focus on one product they tend to do well, since when people have too many choices they tend to bounce all over the place and are unable to make a purchasing decision.

        Do the exercise below

        Questions to ask yourself.
        What is my target audience
        What are they likely to buy
        What is there average income
        How do they buy i..e. credit cards store etc.
        What do they come to my site looking for, you can get this information when you drive organic traffic and have google
        analytics set up.

        Well done once again, more success to you

  • Matt Swan

    Scott Scortch Pt2………..when are they gonna learn?

    • King Cold

      LMFAO!!!! DAMN. You wrong for that!

    • eddieknucks

      Are you saying j.d. on that booger sugar too?

      • Matt Swan

        Naw. I’m not gonna lie on the man like that. I said that because Scott went through money like “it ain’t a thing” and wound up broke and owing a lot of money. Seems another famous producer is following his lead. Money IS a thing, always has, ALWAYS will.

      • eddieknucks

        Fo sho. It would’ve been more understandable though. “Hey I had an addiction and wasn’t up on my business. ” instead of “Hey I fucked off millions for no good reason.” These cats have had too many examples to be financially stupid.

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  • Living beyond your means always has it’s downfall.

    Popping champagne when you can’t afford it is bound to

    catch up with you one day.

    I hope dude sorts it all out. I am sure he will.

    • ItGoesDownINtheDM

      shoot even popping champagne when you CAN afford it is bound to catch up with you one day lol

  • Jared Bolden-Whyte

    So you telling my just off of M. Carey and Usher’s top selling cd his royaltys dont take care of this

    • heavyboy

      It’s about how much you spend… not how much you make*

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  • ItGoesDownINtheDM

    but @ the end of the day like most of us here could do better … ijs … JD isnt the first and wont be the last … its easy to say what you would and wont do looking from the outside looking in …..

  • YaheardSyndicate

    in Jd’s defense, some of yall are criticizing but will spend 20 dollars out of your $200 dollar paycheck on a bag of weed. Thats 1/10 of your money on one purchase. So before yall criticize jd for mis managing, millions maybe yall should manage/ make $1000 dollars.

    • Dannygreen227

      You have other problems. If you’re only making 200 a week after taxes.

      • Apollo Showtime

        LMAO

      • seriously

        LMAO right…what is that an unemployment check

    • dee

      that was a bad example

  • Apollo Showtime

    I’m pretty sure he can just cut the check, people have a retarded assumption that this dude isn’t worth 10’s of millions if not more. I’m sure he’s at least 80 million dollar nigga.

  • Mike Swiff

    @APOLLO SHOWTIME “when is the last time you heard JD on anything current? WHEN?” DUDE IS NOT WORTH A THOUSAND DOLLAR BILL WITH MONOPOLY MONEY. LAST I HEARD JD WAS MAKING HIS SALARY AS A DAMN DJ..HUH? YO SON GET YA FACTS STRAIGHT IF HE WAS WORTH EVEN 5 MILLY WE WOULDN’T BE TALKING ABOUT THIS…JD ITS A WRAP..SO SO DEATH…PLEASE GO AWAY!

  • THEBLACKCOUNCIL

    SERIOUSLY THIS IS JUST WHAT LABEL HEADS DO TO NOT AY ROYALTIESS HE GOT MONEY BUT IF HE PAYS TOO FAST ALL THE LAWSUITS AGAINST HIM WILL START STACKING UP #NIGGA PAY THEM FOLKS

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  • Afi Keita James

    Jermaine Dupri needs to make a comeback.