After 20 years in the game, Jermaine Dupri may have to sell So So Def Records because of a $4.8 million loan he took out from SunTrust Bank in 2010.
The So So Def founder paid back some of the loan since then, but the bank eventually stopped receiving payments. SunTrust is now suing Dupri for $2 million. The big dilemma is that Dupri put up collateral in the form of copyrights and royalties from So So Def's songs.
This is Dupri's most recent encounter with financial trouble. He had to pay off a $3 million tax debt and barely missed having his home foreclosed twice within the span of four months.
[via TMZ]
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