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*Dionne Warwick’s monstrous tax debt has become too much to bear. The Grammy Award-winning singer has filed for bankruptcy in New Jersey, citing tax problems due to financial mismanagement, her publicist said Monday. The singer, 72, filed the petition on March 21 in the U.S. Bankruptcy Court in New Jersey, the state where she was born [...]
*Dr. Arnold Klein, the dermatologist who was best friends with Michael Jackson and may or may not be Prince Michael’s biological daddy, has a warrant out for his arrest, reports TMZ. Klein — who has now filed for bankruptcy — failed to turn over more than 100 pieces of expensive artwork as well as a [...]
*As we recently reported, Gary Dourdan’s money is funny. Actually he ain’t got none. That’s why he had to declare bankruptcy. According to TMZ, the former “CSI” actor filed documents this past week that explain how he dug himself the $1.73 million financial hole he’s currently in. Basically it coils down to the fact that [...]
*Former “CSI” star Gary Dourdan can’t handle his financial troubles anymore, so he filed for Chapter 11 bankruptcy in hopes he can start from scratch, says TMZ. He filed paperwork on August 30, and according to the documents, has a little more than $1.8 million in assets; but he owes the ‘man’ more than he’s worth. [...]
*Toni Braxton used to be popular because of her music, topping charts, selling lots of albums and raking in the big bucks. But somehow, she ended up broke. At the height of her career, she generated $170 million from album sales, but only took home $1,972. Toni explained in an exclusive interview on 20/20 how [...]
*If I could package common sense and convince people that it was going out of business maybe I could get them to value it, and possibly stand in line to pay for it. People don’t value what’s free. Common sense is no different. Take, for example, the nationwide panic that set in when the Hostess [...]
*Hostess, the maker of iconic treats like Twinkies, is shuttering its plants and liquidating its 82-year-old business. A victim of changing consumer tastes, high commodity costs and strained labor relations, Hostess ultimately was brought to its knees by a national strike orchestrated by its second-largest union. Read/learn more at WSJ.com. Earlier, we reported … Hostess [...]
*Former “CSI” star Gary Dourdan has given up trying to fight the banks. The actor filed for bankruptcy on August 30th, reports TMZ. According to the docs, has a little over $1.8 million in assets, but owes his creditors $1.73 million. A hefty portion of that debt, $1,689,704, is owed to various banks, including Union [...]
*We know former NFL player Warren Sapp is breathing a sigh of relief today because a federal judge wiped out a large part of his overwhelming debt by discharging him from his bankruptcy case. TMZ broke the story — Sapp filed for chapter 7 back in April, claiming he owed more than $6.7 million to [...]
*One of Michael Jordan’s $1.5 million investments is on the verge of going under. While the loss may not hurt his pockets too much, Jordan could be losing a good thing in Chicago. Attack Athletes Gym is facing foreclosure after a judge rejected a bankruptcy bid by owner, Tim Grover. The 65,000 square-foot sweat lodge [...]
*One of the most common happenings to athletes after their playing careers are over is bankruptcy. We decided to create a top 5 list of black athletes who have gone broke after their days as stars were over. The first person on the list is “Iron” Mike Tyson. The man with the iron fist was [...]
*Retired Baltimore Ravens star Jamal Lewis is the latest celebrity to join the bankruptcy club. TMZ reports the former NFL player filed papers for Chapter 11 bankruptcy in Atlanta. According to Lewis’ bankruptcy documents, he generated $10,566,764.18 in debts, despite having $14,455,854 in assets. Lewis’ creditors include Bank Of America, which has a lien for [...]
*Magic Johnson might not be the best public speaker, but arguably he is one of the best when it comes to making a dollar out of fifteen cents. Last month Magic lead a group of investors in the purchase of the Los Angeles Dodgers. The $2 billion price tag is the largest amount ever paid [...]
*Former NFL defensive lineman Warren Sapp has joined the ever growing long list of ex-millionaire athletes who find themselves broke and having to file bankruptcy. Reports say Sapp owes more than $6.7 million to creditors and back child support and alimony, according to a Chapter 7 bankruptcy filing in South Florida. Sapp’s $6.45 million in [...]
*Antoine Walker had to sell his NBA Championship ring as part of his bankruptcy case, reports TMZ. The bling, won by Walker as a member of the 2006 Miami Heat, sold for $21,500, according to the website. Walker filed for bankruptcy in 2010, claiming he racked up more than $12.7 million in debts, but had [...]
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