Jermaine Dupri: ‘I’m Not Broke, and I’m Not Losing So So Def’s Catalog!’ [Details]
Rucuss staffJune 3, 2013
JermaineDupri is tired of the rumors.
Dupri is firing back at allegations that he’s in danger of losing his So So Def catalog for failing to repay a loan. Although the Atlanta-Journal Constitution reported that Dupri used the So So Def catalog as collateral for a $4.9 million loan that he defaulted on and was in danger of
losing it all, Janet Jackson’s ex-boyfriend said that’s not true.
Dupri addressed the rumors in all caps, which means he’s either pissed, or forgot where the caps lock button is. Check out his rant below.
“SO I WAKE UP THIS AFTERNOON WITH TWEETS FROM PEOPLE ASKING ME IF IM OK,JD WHATS GOING ECT….I HAVE NO IDEA WHY IM BEING ASKED THESE QUESTIONS, BUT BEING THE HEAVY SOCIAL MEDIA PERSON THAT I AM, I KNEW SOMETHING CRAZY HAD TO BE ON THE INTERNET, SURE ENOUGH I LOOK AND @VLADTV IS POSTING THIS LIKE CRAZY, IF YOU’RE A FOLLOWER OF WHAT I DO HERE AT GLOBAL14, YOU KNOW THAT GOSSIP, RUMORS AND ALL THAT BULL SHIT WE DONT DO, BUT!!!!
ONE OF THE REASONS I DID CREATE GLOBAL14 IS TO MAKE SURE ,THAT WHEN SOMETHING HAPPENS WITH ME, THAT IS WORTH KNOWING, THIS IS WHERE YOU GET THE REAL.WITH THAT BEING SAID SUNTRUST BANK IS FULL OF SHIT !!! AND THIS STORY IS A COMPLETE LIE, ON THE COCKYSIDE 1.9 MILLION FOR ALL MY MUSIC, GTFOH!!!! LOL, I HATE THAT I HAVE TO ADDRESS THIS, BUT I WAS ALWAYS TOLD “ONE CAN ROB YOU OF ALL YOUR MONEY AND THEY GET AWAY WITH NOTHING BUT WHEN THEY ROB YOU OF YOUR NAME THEY HAVE TAKEN IT ALL” F**K THAT !!!!”
Last week, SunTrust sued Dupri and So So Def Productions for $1.9 million.
In SunTrust’s lawsuit, the bank alleges that Dupri is in default and still owes money toward a $4.9 million loan from 2010. The loan is backed by copyrighted music owned by Dupri, So So Def and other businesses, as well as a building on Briarwood Court in DeKalb County that houses two recording studios.
The debt originated in 2009 as part of an earlier loan that Dupri took on to pay off income tax and other liabilities, according to a separate court document.
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