So So Def Music Is About To Be Taken Away From Jermaine "JD" Dupri
|Jermaine "JD" Dupri About To Lose Want He Has Started|
Longtime music mogul Jermaine Dupri, the man who helped Atlanta and the South to the forefront in the hip hop and pop music industry, is now reportedly about to lose all his rights to the music label he founded and turned into a music powerhouse in the 1990s, the media has reported.
|Soso Def Records|
Dupri reportedly borrowed $4.8 million from SunTrust Bank back in 2010, tmz.com reports, and he paid more than half of it back. Suddenly, however, the bank stopped getting payments. Therefore So SunTrust is now suing Dupri for nearly $2 million, which is the past due balance plus the interest on the loan.
|The Home Of Soso Def Records Billbroad|
This continues a money-flow problem of the last few years. Dupri satisfied a $3 million tax lien in February and he scarcely staved off foreclosure efforts on his Atlanta mansion twice in the past year.