Authorities thwart shakedown over Hov's old music, valued at up to $20 million.
Chauncey Mahan was questioned by authorities Friday (April 18) after he was busted for allegedly trying to sell a bunch of Jigga Man's master recordings for $100,000. The music is valued between $15-$20 million, and was recorded between 1998 to 2002, the same years in which Mahan worked with Hov.
Jay's old label, Roc-A-Fella Records, reportedly believed that the music had been lost all this time. Meanwhile, Mahan reached out to concert giant Live Nation, which has a joint venture with Mr. Carter's Roc Nation imprint, to take the music off his hands for a $100,000 "storage fee," the sites says. He later settled for a $75,000 payout.
Mahan agreed to meet with Hovito's team at a Northridge, Calif., storage facility, unaware that police had been tipped off to the plan. When he arrived, LAPD officers took him in for questioning.
Although Mahan was not formally arrested, police in Beverly Hills, where Live Nation is based, are investigating the matter. The NYPD is also investigating a grand-larceny complaint that Jay's people filed regarding the music tapes.
Authorities currently have possession of the missing Jay Z music and are determining the rightful owner.
Mahan is credited for working on Jay Z's Vol. 3…Life and Times of S. Carter, The Dynasty Roc La Familia, and more of the 44-year-old Grammy winner's albums. He also worked on music for LL Cool J, the Lox and Beanie Sigel.
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(Photo: Otto Greule Jr/Getty Images)