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Jay Z At Center Of Alleged Extortion Plot Over $20 Million Master Tapes

Truth rating: 9

By Daniel Gates

(Getty Images)

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.

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