JCOR Closes Doors Amidst Controversy

JCOR Records,

launched a year ago by Mammoth Record's founder Jay Faires, recently shut down

it's Los Angeles offices. According to sources, the label will also close the

New York office shortly & is currently filing for bankruptcy. Sources say the

label was in financial turmoil & there are allegations that Faires took money

from employees' 401k fraudulently. JCOR's artists included 8Ball & MJG, Slum

Village & Masta Ace.