Jay Z Involved In Extortion Plot Over Master Recordings: Report

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JAY Z performs at SXSW on March 12, 2014 in Austin, TX

Police have reportedly confiscated a collection of Jay Z's old master recordings that had been stolen.

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Producer Chancey Mahan, who worked with Jay Z from 2008-09, was allegedly found in possession of Roc-A-Fella Records master recordings from 1998-2002 that Jay and his team thought had been lost, according to TMZ.

Mahan told law enforcement that he reached out to Live Nation to tell them that he planned to auction the recordings or hand them over to them for a $100,000 "storage fee." He continued to say that they had settled on a fee of $75,000.

When Mahan went to the storage facility on Friday (April 18) where the recordings -- which are valued between $15-$20 million --  were being kept, he was reportedly detained by LAPD for questioning, but not arrested. According to Mahan, LAPD were contacted by Jay Z ahead of time.

The LAPD will remain in possession of the recordings until a judge decides who has rightful ownership.

Sources tell TMZ that the Bevery Hills PD are further investigating extortion allegations against Mahan, while Jay Z's team has filed a grand larceny complaint with the NYPD. Jay Z's representatives could not be reached at press time.