Jay Z’s $20 Million Stolen Recordings Involved in Extortion Plot — Report (VIDEO)
Jay Z’s got 99 problems, and unfortunately, extortion is now one of them.
According to TMZ, the rap superstar has found himself in the center of an extortion plot over stolen recordings that value between $15 and $20 million — which means it’s absolutely imperative that Jay Z get them back ASAP.
So what happened? Jay Z made a lot of master recordings with producer Chauncey Mahan from 1998-2002, and in 2002, the recordings went missing. Jay Z and his camp assumed that the recordings were simply lost, but in actuality, it sounds like Chauncey’s been stashing them away in his Northridge, California storage facility. Yikes!
And Chauncey’s totally willing to give them back — for a price. He contacted Live Nation and offered them a deal: The tapes would either go up for auction, or they could purchase them for $100k. After a little negotiation, they settled on a price of $75k… but little did Chauncey know, the LAPD had been contacted and was in on the whole thing. Surprise!
Protip: Don’t ever steal something from someone and then try to sell it back to them. It’s illegal.
Although Chauncey wasn’t arrested, he was detained for questioning. The tapes are now in the police department’s possession, and apparently, Jay Z has filed a grand larceny complaint with the NYPD.
This teaches us all a very valuable lesson — one that Drake has already learned: Don’t ever mess with Jay Z. It’s just a really bad idea.