Jay Z is at the center of an extortion plot that involves a former producer and some master recordings believe to be worth $15 to $20 million.
Producer Chauncey Mahan, who was in possession of the masters, was recently arrested and police took all the masters from his storage unit.
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The back story.
The master recordings were reportedly recorded between 1998 and 2002 and form the foundation for Jay Z’s classic album Vol. 3 . . . The Life and Times of S. Carter and The Dynasty: Roc La Familia.
The recordings contain rough copies of hits including “I Just Wanna Love U (Give It 2 Me)” and “Big Pimpin.”
Chauncey Mahan reportedly contacted Jay Z’s management demanding $100,000 for his storage fee, but settled for $75,000.
Police later swoop down on his storage unit and arrested him and confiscate the masters pending a court hearing.
According to TMZ, Beverly Hills PD is currently investigating the extortion plot.
Mahan also said that Jay Z sound terrible on the master recordings and that is why he want to get his hands on them so bad.
