Jay Z At Center Of Alleged Extortion Plot Over $20 Million Master Tapes
Jay Z is at the center of an alleged extortion plot involving stolen master tapes valued at as much as $20 million.
Here’s what happened. In 2002, a number of master recordings went missing from the rap mogul’s Roc-A-Fella Records, and they were presumed lost.
But last week, a producer named Chauncey Mahan allegedly contacted Live Nation, which has a joint venture with Jay Z called Roc Nation, and indicated that he had the masters in his possession at a storage facility.
According to TMZ, Mahan said he would either auction the recordings or give them to Live Nation for a $100,000 “storage fee.” Last Friday, Mahan went to finalize the deal with Live Nation — but wound up detained by the police, who had been alerted by Jay Z’s camp.
He was not arrested, but the tapes have been taken into police custody until a judge rules on their ownership. Jay Z’s people have filed a grand larceny complaint against Mahan, and police are investigating the extortion allegations. Gossip Cop will have updates on the investigation.