Published Apr 21, 2014Jay Z regularly ranks near the top of lists of the richest moguls in hip-hop, but the rapper could soon be coming into even more money in the form of some recovered master recordings dating back to the turn of the millennium. However, the tapes have been tied up in an alleged extortion case.
TMZ reports that Hova's Roc-A-Fella Records owned a trove of recordings from between 1998 and 2002, but these went missing in 2002. They were believed to have been lost, but now producer Chauncey Mahan (who worked with Jay Z around the time in question) has apparently emerged with the tapes.
Mahan allegedly contacted Live Nation — who partnered with Jay Z on the entertainment company Roc Nation — and said that he would sell them the tapes for a $100,000 "storage fee" or put them up for auction. He was eventually talked down to $75,000, but when he showed up at his Los Angeles storage facility on Friday (April 18) to make the deal, the police were waiting for him.
Mahan was detained and agreed to go to the police station for questioning. He also handed over the tapes to the cops until ownership is determined.
According to TMZ, the tapes are values between $15 and $20 million. Although Mahan hasn't been arrested, Jay Z's representatives have apparently filed a grand larceny complaint with the LAPD. Meanwhile, the Beverly Hills police are investigating Mahan for possible extortion.