Jay Z was the target of an alleged multi-million dollar extortion plot that was prevented by the LAPD Friday (April 18), according to TMZ.
Producer Chauncey Mahan worked with Jay Z from 1998 and 2002 was in possession of a number of Jay Z master recordings that Jigga and his associates assumed were lost. TMZ says the value of the recordings is estimated to be between $15 million and $20 million. Which you may think, is chump change to the 400 million dollar MC; but its his property and he wants it back.
The story says Mahan reportedly had the masters in a Northridge, California storage facility and contacted Live Nation, with whom Jay Z has a partnership for Roc Nation, regarding the recordings.
Mahan, who worked with Hov on Vol. 3… The Life And Times Of S. Carter and The Dynasty Roc La Familia (2000- ), allegedly planned to put the tapes up for auction or return them to Live Nation for a $100,000 “storage fee,” TMZ says.
When Mahan went to meet with Jay Z’s representatives Friday, he was met by the LAPD. He was detained and brought in for questioning. He also provided the LAPD with the recordings until a judge determines ownership of the recordings.
Mahan was released and Jay Z’s representatives filed a grand larceny complaint with the NYPD Friday.
The Beverly Hills police department is also investigating the extortion allegations, as Live Nation is based in the California city.