So So Def founder Jermaine Dupri is reportedly being sued by SunTrust Bank for $1.9 million. The producer has been accused of defaulting on a $4.9 million loan he took out in December 2010.
As of today Dupri owes $1.8 million in principal but the interest and fees brought his bill up to $1.9 million. If he can pay off the loan within ten days he won't have to pay lawyer fees.
This news was reported on May 21ST. It's now June! What's Jermaine to do now?
So many music artists are losing their homes due to loans they can't afford to pay back. Being in the music business is like being in fashion. One minute you in and the next you are out!
Singer Fantasia just recently lost her home!
@mstekeyla
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