It seems that a 10-year plot to extort Jay Z has just come to light. According to TMZ, the scheme to steal some of Jay Z’s master recordings between 1998-2002 was worth between $15-$20 million!..
From ’98-’02, a producer by the name of Chauncey Mahan, worked with Hov to record many master recordings for Roc-a-fella. However, at the end of the run in ’02, the recordings mysteriously vanished. It seems that Jay and his crew assumed that the recordings were simply lost. Via TMZ:
Fast forward to this past Friday. Mahan apparently had a number of the masters in his Northridge, CA storage facility. Law enforcement sources tell TMZ … Mahan allegedly contacted Live Nation — which has a joint venture with Jay Z called Roc Nation — and said he would either let the tapes go up for auction or give them the tapes for a $100K “storage fee.” We’re told Mahan eventually agreed to take $75K.
When it came to collection time, Mahan was met by the LAPD — who were tipped off by Jay Z’s people. So far, Mahan has not been arrested, but an investigation is underway, regarding the recordings.
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