Music mogul Jermaine Dupri seems to be living the life. Poppin bottles… jet setting all over the country to DJ here and there. He even made time to launch a new website.
JD’s been going hard with his new Global14 site and can be spotted on Twitter day and night asking just about everyone to join.
I wondered a while ago why JD was focusing all that energy towards the web as opposed to music. Now I finally get it!
He’s desperately seeking revenue…
Reportedly the head of So So Def is So So IN DEBT and just barely avoided foreclosure of his Atlanta mansion, which was originally scheduled to be sold on the courthouse steps last week.
JD also owes hundreds of thousands in state and property taxes and rumors are flying that So So Def is SO SO done.
Details below:
Someone sent me the following legal notice a few weeks ago that listed Jermaine Dupri Mauldin‘s Atlanta residence as scheduled for foreclosure sale.
WSB TV also confirmed that JD’s Mount Paran Road home in northwest Atlanta was in foreclosure and set to be auctioned off on the steps of Fulton County courthouse May 2, 2011.
The sale was canceled at the last minute and the law firm handling the foreclosure would not say why the sale was stopped.
According to the notice, Suntrust Bank initiated foreclosure proceedings on JD’s original loan amount of more than $2.5 million (plus interest).
When I got the document, I personally had a ‘wait & see’ attitude because I know that most foreclosures never occur.? Some people even stop paying their mortgage on purpose in order to negotiate a cheaper rate because banks are more likely to negotiate with a late debtor than one that pays on time.
But I digress…
Anywhoo, it’s no secret that JD has faced financial difficulties over the past few years, Creative Loafing even documented it last year.
[READ: Jermaine Dupri’s Free Fall… ]
If you recall, JD silently pulled out of the nightclub business with nary a word being said about his Studio 72 (the infamous location where DaBrat’s bottle altercation gained her a 3 year bid).
Then after years as an “A” town staple, So So Def’s infamous “Welcome to Atlanta” billboard was pulled down due to budgetary cutbacks at the label.
And let’s not forget about Cafe Dupri, JD’s after hours heathy eatery that suddenly went defunct, with several workers crying foul about not being paid…
Again. I digress…
WSBTV also dug up a ton of info about JD’s messy financial status.
In addition to almost defaulting on his home loan, Dupri owes the state of Georgia almost half a milli ($493,768.75 to be exact) taxes dating back to 2007.
To make things worse, while JD is somewhere poppin bottles, liens are being filed against his property.
Shane Cox of Design Logistics said Dupri still owes him $12,000 for managing the star’s mansion. His services included renovation and design.
We would bring everything in, assemble, set up. Hang all the art. The art hanging in the house. Things along those lines. I feel he’s a pretty nice guy. I hope he will come forward and take care of the debt we have.
Fayette County Tax Commissioner, George Wingo also shared documents showing that Dupri owes them $14,024.67 in unpaid property taxes, fees and penalties in connection with another home Dupri owns.
And as for Durpri’s So So Def Records, reportedly two phone numbers listed have been disconnected…
CLICK HERE to watch WSBTV’s news footage.
I’m sure that big “A”zz drink is a MUST right about now…