The Roc-A-Fella recordings were reportedly worth $20 million

Both Jay-Z and the Los Angeles Police Department have dropped an investigation into an alleged extortion plot regarding previously lost master recordings.

Earlier this year police confiscated a collection of lost Jay Z master recordings from producer Chancey Mahan, who worked with the rapper from 2008 to 2009, and was allegedly found in possession of Roc-A-Fella Records master recordings from 1998 to 2002. In 2002 the masters – which were reportedly worth $20 million – went missing and Jay Z and his team believed they had been lost.

Last month Mahan allegedly contacted promoter Live Nation – a partner in Jay Z’s Roc Nation record label – to say he had a number of the tapes in a storage facility in California and that he would either auction them or give them the tapes for a $100,000 “storage fee”. He is believed to eventually agreed on $75,000 but when it came to the handover police were waiting for him and detained him for questioning.

The case however has now been dropped as Jay Z and Roc-A-Fella Records are no longer pressing criminal extortion charges, reports TMZ. As such, the LAPD has closed its investigation, but will keep the master recordings until ownership is established.