When Freddie Gibbs parted ways with Jeezy's CTE World label, he didn't exactly go quietly. The Indiana rapper split from the imprint in 2012, called his former boss a "fraud" and vowed to go at the Snowman with diss records, "like 'Pac would on Biggie."

Now, Jeezy is sharing his side of the story. In an interview for Elliott Wilson's The Truth series, he explained that the business relationship "could have" worked out, were there not other obstacles at play. 

The CTE boss said he was paying out of pocket to get Gibbs's music career off the ground with the intent of signing him to a major label. Unfortunately, things didn't go as expected. "I put him on a song with Eminem, I put him on a song with T.I., I put him on numerous mixtapes that I had," said Jeezy. "I took him around the world, I spent money on videos and he didn't use 'em 'cause he didn't like 'em, and it wasn't his money.

"My whole thing to him was, 'Look, I took you to every label in the game, they don't wanna sign you,'" continued the "Seen It All" MC. "'I love you. I think your music is dope [but] they don't want to sign you.' So at the end of the day, when I called him up I was like, 'Yo, I can't really spend my money on you. I got a family, other s--- I gotta' take care of so I'll help you all that I can but I can't fund it anymore.'"

He thought the conversation went well, until Gibbs started lashing out publicly. "I hear diss records. What I'm supposed to do? I'm not replying to that, we gettin' money," added Jeezy. "YG just sold a million f----n' singles. At the end of the day we all tried, it didn't work. That s--- happens in business all the time."

Besides the Gibbs mishap, Jeezy also talked extensively about his forthcoming studio album, Seen It All, and what it represents. "This album is about maintaining who you are and keeping your dignity and your respect and not falling short just by going for any little thing that happens because all this s--- is a trick to get you off your s---," he said.

Seen It All drops on September 2. 

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 (Photos from left:  Johnny Nunez/WireImage, Donna Permell/PictureGroup)