Thursday, May 30, 2013

Bank Sues Jermaine Dupri for $1.9 Million

The folks in SunTrust Bank's collections department must know record producer Jermaine Dupri by name. Back in 2011, SunTrust Bank foreclosed upon his 3,608 square foot 4-bedroom, 3 bathroom home in Atlanta. He recently defaulted on a commercial note and the bank wants its money. According to a lawsuit SunTrust Bank filed today in Fulton County Superior Court, Jermaine took out a $4.9 million loan in December 2010, but defaulted on the commercial note in May 2011. The bank said it gave Jermaine until November 2012 to pay off the balance, but he didn’t and hasn’t paid a penny since. According to the lawsuit, Jermaine owes about $1.8 million in principal, $83,545 in interest, $10,083 in fees and $505 in interest per diem after May 21. The bank is willing to waive their attorneys' fees if Jermaine pays the full amount due within 10 days. Good luck with that. His baby mama is looking for her child support.

source: WGCL

Share this post
  • Share to Facebook
  • Share to Twitter
  • Share to Google+
  • Share to Stumble Upon
  • Share to Evernote
  • Share to Blogger
  • Share to Email
  • Share to Yahoo Messenger
  • More...


Post a Comment