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Jermaine Dupri

My EVIL Bank Screwed Me

Out of MILLION$$$

8/4/2013 12:15 AM PDT BY TMZ STAFF
EXCLUSIVE

0802-jermain-dupri-tmz
Hip Hop mogul Jermaine Dupri says his bank wined-and-dined him, then treated him like an uneducated idiot in a plot to snatch millions of dollars from him ... TMZ has learned.

We broke the story ... Sun Trust Bank sued the So So Def founder first, claiming he defaulted on a $5 million loan. The bank wanted $2 million for the balance plus interest ... AND his entire EMI music catalog.

Now, Dupri is firing back with a counter lawsuit ... and in the docs, he says he secured a $5 million loan in 2009 with his ST personal banker -- a man he'd worked with for years, who was lenient on loan payments and hooked him up with swag: ATL Falcons tickets, dinners, and more.

Then, in 2010 Dupri claims his personal banker took advantage of his lack of education (he didn't finish high school) and told him he had to quickly sign a NEW loan agreement, assuring him it was for his benefit.

But Dupri says in fact the new terms increased his loan payments without his knowledge. As a result ... he defaulted, and had to sell off his music catalog and his studio to settle with the bank.

This ain't chump change on the line -- according to JD his studio was worth $2.5 million, and his catalog ... $20 million!

So so painful.

44 COMMENTS

No Avatar
1.

cathy    

next

383 days ago
2.

Jordan    

Dupri stay in school, The Law says Ignorance of the Law is No excuse. You will LOSE your Counter suit.

383 days ago
3.

Mary P    

Uh huh. Because high school doesn't teach you to look at the "payment due" box. Or the first time you are supposed to pay it and raise the issue with the bank. Or being in such a high life with people all around that no one told you to have an accountant and/or lawyer to look at such a large loan.

383 days ago
4.

squinney7007    

Stay in school kids !

382 days ago
5.

notalawyer    

Ignorance is No Defense

382 days ago
6.

BB    

Who?

382 days ago
7.

jason    

Just like i said months ago what black celebrity will be losing there money next due to they are retards and cant handle there personal finances...

382 days ago
8.

teamjasn    

Sucked in to him... If he was dumb enough to let it happen....

382 days ago
9.

Phil    

No sympathy here. He' a grow ass man and should realise the world isn't made from skittles and fluffy clouds. It's made of sharks that'll hang you out to dry!!!

382 days ago
10.

Onward    

Willing to spend it and accept gifts from the banker, but not willing to admit responsibility for his own money? Puh-leze. You don't have to have an education to know you read before you sign. You knew you'd borrowed the money; you knew you had to pay it back.

382 days ago
11.

Don    

And so you call him a "mogul?
Why? Look at the funds he's borrowing and didn't finish high school, so he was duped?!
Now we know those games, tickets, etc were "give me's" from others, all on the *** so to speak.

The guy's an IQ idiot who used to make a money promoting anger, bee-otches, demeaning of women, killing, rape
He just got lucky, stupid lucky for a few moment when the other idiots gave their money to him
Now the bank wants it back, that's all
You being a "mogul" should understand that

382 days ago
12.

Jamey Hunter    

Isn't this typical-He's broke now and needs to find someone to blame.

382 days ago
13.

Karla    

How on earth can one be a "mogul" and not be able to power through do***ents from a bank............Contracts are the same thing so it sounds like a real bad case of sour grapes and now wanting to once again make someone else responsible when you had more than the average person and squandered it somehow.

382 days ago
14.

Doug    

you are an uneducated idiot

382 days ago
15.

static    

They're called accountants, Look into it.

382 days ago
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