Jermaine Dupri claims his bank tricked him out of millions of dollars.
Trust Bank filed claim again Dupri for defaulting on a $5 million loan. They were asking for $2 million for the balance plus interest and his entire EMI music catalog.
Dupri In response, has filed a counter-suit claiming that he secured a $5 million loan in 2009 with a Sun Trust banker. According to TMZ, Dupri said he had worked with the banker for years; the banker was lenient with him on loan payments, wined and dined him with ATL Falcon tickets, dinners, etc.,
In 2010 Dupri says the banker took advantage of him and his lack of formal education, and had him sign a new loan agreement that was for his benefit. But Dupri said the new loan agreement only increased his payments without his knowledge. This caused him to default; have to sell his music catalog worth $20 million and his studio worth $2.5 million , to settle the debt with the bank.
