*Jermaine Dupri is claiming that his bank duped him out of millions of dollars.
Trust Bank was the first to file claim again Dupri for defaulting on a $5 million loan. They were asking for $2 million for the balance plus interest and his entire EMI music catalog.
In response, Dupri has filed a countersuit claiming that he secured a $5 million loan in 2009 with a Sun Trust banker. According to his claim, Dupri had worked with the banker for years; he was lenient with him on loan payments, wined and dined him with ATL Falcon tickets, dinners, etc., according to TMZ.
Then in 2010 Dupri says the banker took advantage of him and his lack of formal education, and instructed him to sign a new loan agreement that was supposedly for his benefit.
But according to Dupri, the new loan agreement only increased his payments without his knowledge, which caused him to default; have to sell his music catalog and his studio, to settle the debt with the bank.
Durpi says his studio was worth $2.5 million and his catalog $20 million.