Saturday, June 1st, 2013 at 12:49 am
Thought money wasn’t a thing?
According to the good folks over at TMZ, JD is close to losing the rights to his So So Def Music catalog due to the fact of bank loan he has failed to pay back. Dupri borrow $4.8 Million Dollars from Sun Trust Bank back in 2010, and he actually paid back half of the loan, but has since stopped payments.
He owes just about $2 Million plus interest, and Sun Trust is now suing him for the remainder. The collateral that he put up to get the loan was in the form of copyrights and royalties from the artists on his label. Never make a deal with the devil.