Jermaine Dupri is dangerously close to losing a large portion of music from his So So Def Records catalog. The music producer is being sued by SunTrust Bank for the remaining $2 million of a $4.6 million loan he took out in 2010.
According to TMZ, Dupri put up the copyrights and royalties to music from artists like Da Brat, Bow Wow and Xscape as collateral to secure the loan. If he can't come up with the money and the court rules in favor of the bank, he'll be forced to pay back the loan, plus interest and have to kiss a large bulk of the music that made his label a powerhouse goodbye.
Dupri has been in serious financial trouble before and found a way to pull himself out of it. He paid off a $3 million tax lien in February and managed to save his Atlanta mansion from foreclosure twice in the past year.
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