(CelebNMusic247-News) Jermaine Dupri Counter Suing Sun Trust Bank
Last month reports flooded the internet that Jermaine Dupri fell victim to FALSE reports regarding a dispute with SunTrust Bank!
Dupri quickly issued a statement in regards to SunTrust Bank filling a lawsuit against him for allegedly defaulted on a $4.9 million loan. This is not the only financial issue that JD has had this year. In February he slammed the media for saying he didn’t pay on a $3 million dollar tax debt, when in fact he did.
In order to set balance to his upside down financial drama’s Dupri is now firing back at the Sun Trust Bank with a counter lawsuit.
Here’s the drop according to AHH:
Jermaine Dupri filed a counter claim against SunTrust Bank claiming they were supposed to structure the loan using So So Def publishing royalties to pay his Federal and State taxes.
JD claims the bank never paid his tax bills causing him to be hit with multiple tax liens. Jermaine also claims SunTrust restructured his loan payments based on unrealistic projections of his income.
JD filed the counter suit because Sun Trust is trying to foreclosure on his home and seize his assets without trying to resolve the situation.
Here is what Indy Channel is reporting:
He is accused of stopping his monthly repayments in May, 2011, and was given until November, 2012 to settle the debt, but failed to do so, prompting finance executives to take him to court.
They tried to foreclose on his property in 2011 and moved to auction it off in January (13), but their attempt was halted after Dupri obtained an emergency court motion to prevent the sale.
Now he has filed a countersuit, accusing SunTrust bosses of breach of contract relating to the original loan agreement in a bid to prevent them from seizing his assets and his home.
He claims they were partly responsible for diverting some of his funds from his account to pay his taxes, but they reportedly failed to do so, resulting in Dupri being hit with tax liens amounting to more than $3 million .
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