Jermaine Dupri — who once rapped with Jay-Z that "Money Ain't a Thang" — is finding that the Internal Revenue Service doesn't agree with his tune.
The music mogul owes millions to the federal government, and a seizure of Dupri's property, including a portion of his prized car collection, has already taken place (click for photos of Jermaine Dupri's home and cars).
Federal agents recently staged a raid at two of the hip-hop producer's Atlanta residences, carting away furniture, computers and cars, according to a report from CBS Atlanta, which cited an unidentified source close to the seizure. Atlanta's IRS field office declined to confirm the raid, since records of seizure are not considered public record. What is public record, however, is the amount of Dupri's debt. According to a federal tax lien filed in Forsythe Superior Court in Atlanta and obtained by MTV News, Dupri (whose real name is Jermaine Dupri Mauldin) owes $2,541,865.
Dupri declined to comment on the seizure, but did dispute the amount owed. "The numbers are wrong," Dupri said in a statement to MTV News, "and the truth will soon be shown."
In the meantime, Dupri is due to announce this week that he just signed a deal making Arista the new home for his So So Def label. His star acts Lil' Bow Wow and Jagged Edge will remain with Columbia, while Dupri will take rapper Da Brat, singer Fundisha and three new acts to his Arista/So So Def imprint.