Atlanta, Georgia music producer, Jermaine Dupri (Mauldin) has been having a tough time of late, with one financial disaster after another. Years ago, the IRS seized his luxury cars, for non-payment of income tax. Many thought his problems were behind him, but old habits die hard. The former hitmaker, known for producing tracks for singers such as Mariah Carey and Usher and running his now defunct subsidiary label, So So Def, has seen his fortune disappear, along with girlfriend, Janet Jackson.
Dupri's $2,500,000 home on Buckhead's Mount Paran Road, was foreclosed on by Sun Trust Bank, as he was in arrears and owes the state $500,000 in taxes. Dupri bought the home several years ago, but has lived so lavishly, he has been unable to pay his bills, among them a $17,000 monthly mortgage payment. Foreclosure was staved off at the last minute, as the house was about to be auctioned on the courthouse steps.
As a result of Dupri's spendthrift ways, which he learned from his dad, music executive, Michael Mauldin, his record label and restaurant were unceremoniously closed, with employees owed wages. They discovered he was out of business, due to locked doors and disconnected phone lines. Dupri should have used discretion and common decency, in formally telling them what had transpired.
Dupri was also fired from his job at Island/Def Jam, further removing another source of income. He was blamed for a number of flops at the label, as at the end of the day, he is not a true executive. He just likes to spend money and pretend he knows what he is doing.