TMZ

Our TV Shows

Got a Tip?

Call TMZ at (888) 847-9869 or Click Here

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
31.

Roan    

I suppose that only we are guilty for our mistakes in everything that goes wrong. I mean, if I apply for money at this reliable site I have to check and read everything about these guys and learn all terms and conditions they propose to me. I do not want to let myself cheated and check everything that is concerned to my money because I earn not so much to pay more.

439 days ago
32.

danhayes    

Willing to spend it and accept gifts from the banker, but not willing to admit responsibility for his own money? 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. For more info Click here

342 days ago
Previous 15 Comments | 1 | 2 | 3

Around The Web