By Agustin A. Iglesias
Hip Hop Vibe Staff Writer
In the eyes of hip hop fans, Jermaine Dupri is a legend. Jermaine Dupri helped establish the Atlanta hip hop scene and laid the groundwork for the people currently putting on. It is very unfortunate for Jermaine Dupri to be in a position where he is close to losing his label, So So Def.
Even if hip hop will always view So So Def as Jermaine Dupri’s label, the business world may see it otherwise. With his finances in turmoil, Jermaine Dupri stands a strong chance of losing So So Def, a label he has spent years building. Accused of defrauding $5 million, Jermaine Dupri owes $2 million and his EMI catalog.
Sun Trust Bank is suing Jermaine Dupri for this and the mogul is coming up with a countersuit of his own. Accusing his banker of treating him like an idiot, Jermaine Dupri is suing because he feels he was set up to lose his company. Jermanie Dupri’s studio is worth $2.5 million and his EMI catalog is worth $20 million.
Follow Agustin A. Iglesias on Twitter @Rule_York.
