Iconic Hip Hop executive Jermaine Dupri (popularly known as J.D) might lose his label So So Def.
The label which was instrumental to the rise of acts such as Kriss Kross, Da Brat and Bow Wow might be out of J.D’s hands if he fails to pay the remainder of a loan he owns a bank.
In 2008, according to NET findings, J.D
borrowed $4.8m from Sun Trust Bank. The mogul who also doubles as an
artist allegedly stopped servicing the loan a couple of years ago.
He currently owes the bank $2m plus interest.
Sun Trust Bank is keen on collecting its
money and if J.D fails to pay up, they will have no other option than
to take over the So So Def catalogue which he put up as collateral.
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