May 15, 2014 08:48:23 GMT
Jay-Z will not press criminal extortion charges against Chauncey Mahan, who demanded $100,000 in 'storage fees' for a number of old recordings that the rapper thought were lost in 2002.
Jay-Z has decided to no longer pursue criminal extortion charges over his old recordings. According to a new report by TMZ, the 44-year-old MC and his camp have chosen not to move forward and the Beverly Hills Police Department has closed its investigation as a result.
As previously reported, Jay-Z was the target of an alleged extortion plot. Chauncey Mahan, a producer who worked with him from 1998 to 2002, was detained by the LAPD for allegedly stealing a number of master recordings that Hova assumed were lost in 2002.
Mahan allegedly told Jay-Z that he would put the tapes up for auction or give them back for a $100,000 "storage fee." Mahan was detained for questioning when he showed up at the storage facility where he kept the tapes, which are worth $20 million.
Mahan has maintained his innocence, claiming that he was hired to "protect" Jay Z's music over a decade ago. He turned over the masters and the LAPD will remain in possession of the recordings until a judge decides who has rightful ownership.