General News

Jermaine Dupri sued over outstanding bank loan

By:
May 30, 2013 | 6:17pm EDT

Hip-hop mogul Jermaine Dupri is facing a $1.9 million (£1.23 million) lawsuit over allegations he defaulted on a bank loan. The producer/rapper was granted a $4.9 million (£3.16 million) loan from SunTrust Bank bosses in December, 2010, but he allegedly stopped his regular payments in May, 2011. He was given until November last year (12) to settle the debt, but failed to do so and now bank executives are taking him to court to recoup the funds, according to the Atlanta Journal-Constitution. Dupri, who has been battling financial woes in recent years, has a troubled history with SunTrust Bank - company heads previously tried to foreclose on his Georgia mansion in 2011 after he fell behind on his mortgage, and they planned to auction off the property again in January (13). The sale was halted after the star managed to obtain an emergency motion to block the auction.

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