Jay Z Target of Alleged Extortion Plot Over Master Recordings

Roc Nation founder and CEO Jay Z was allegedly involved in theft of mastered recordings valued at $20 million. TMZ reports that co-producer, Chauncey Mahan, who worked with Carter from 1998 to 2002, contacted concert promotional company Live Nation, who are partners with Roc Nation, and agreed to release the set of recordings in return for a $100,000 “Storage Fee.” After both parties agreed upon a $75,000 payment, Mahan went to meet up and receive his money, but instead was intercepted by Los Angeles Police Department, who Live Nation had already contacted. Mahan was then detained for questioning by the LAPD, who took possession of the tapes while it’s determined who rightfully owns them. The tapes are currently being estimated to be worth at least $15 to $20 million, and Mahan is set to face charges of extortion and grand larceny.