Jermaine Dupri In DANGER of Losing So So Def Music
Jermaine DupriIn DANGER Of LosingSo So Def Music
5/31/2013 10:14 AM PT
Jermaine Dupri is in jeopardy of losing his rights to the music from his So So Def label ... because he can't seem to pay off an enormous loan.
Dupri borrowed $4.8 mil from SunTrust Bank back in 2010 .... he paid more than half of it back, but then the bank stopped getting payments. So SunTrust is now suing Dupri for nearly $2 mil -- the balance due, plus interest.
Here's the BIG problem ... In order to get the loan, Dupri had put up collateral, in the form of copyrights and royalties to the many songs his label owns from artists like Xscape, Bow Wow and Da Brat.