An engineer has been accused of trying to extort more than $100K from Jay Z. Jigga thought that he has lost some master recordings from 1998-2002 but turns out that Chauncey Mahan had them in his possession the entire time. Mahan attempted to sell the tracks back to Roc Nation for a $100K “storage fee”. Hov’s team figured out was going on and called the feds. Live Nation talked Mahan down to $75K and when he came to make the trade off he was arrested. He was taken into LAPD custody for question. The tapes will remain with the police until ownership is determined in court. The recordings this guy had in his possession are worth 20 Million.
The Producer says, according to TMZ, Jay Z should be THANKING the producer he’s accused of extortion saying if it weren’t for him the recordings he’s allegedly holding for ransom would have been lost or destroyed. The man claims Def Jam asked him to keep track of the recordings in 2002 because no one else was doing it. According to Chauncey, Jay Z “was a stupid kid smoking blunts” who was reckless with his intellectual property.
Chauncey claims over the last 10 years he’s repeatedly notified Jay Z’s people that he was in possession of the masters, and they blew him off. He says he finally asked for money last week when he could no longer afford to keep the masters in storage. He says he asked for $100,000 to compensate him for keeping the recordings safe for 12 years. FYI, the masters are for Jay Z’s “Volume 3” and “Dynasty” albums, including huge songs like “Big Pimpin” and “I Just Wanna Love U (Give It 2 Me).”