Tag: broke

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Celebrities Music

Wyclef Jean is Broke – “there ain’t no money”

Wyclef Jean’s former lawyers have filed a six-figure legal judgment against the musician after he failed to make agreed-upon payments to reduce his debt, according to court filings that include a recent e-mail from Jean’s business manager claiming that his client was broke.

“there ain’t no money,” Jean’s accountant declared in a terse January e-mail to his creditors.

Other records show that federal and state authorities have, since mid-2012, hit the performer with nearly $2.9 million in tax liens (which remain outstanding).

According to New York State Supreme Court filings, Jean last year agreed to pay the law firm Shukat Arrow Hafer Weber & Herbsman $100,000 to settle an outstanding bill topping $133,000.

As part of a confidential settlement agreement, Jean was required to pay the firm $10,000 by August 1, 2013, and $50,000 by year’s end. The agreement stipulated that if Jean made those two payments, the firm would waive the remaining $40,000 it was owed by the musician. However, the agreement notes, if Jean failed to make the payments, he would be on the hook for the entire $100,000, plus 10 percent annual interest.

Jean, records show, made neither payment.

Categories
Music

Singer Dionne Warwick Files For Bankruptcy

Dionne Warwick, the singer and actress who was a regular at the top of the Billboard chart for four decades, owes more than $10 million in back taxes and has only $10 left at the end of each month after paying expenses, according to a petition filed in U.S. Bankruptcy Court in New Jersey last week.

The 72-year-old five-time Grammy Award winner, who lives in a 3,200-square-foot home in South Orange and won awards for songs like “I’ll Never Fall in Love Again,” “That’s What Friends are For” and “Raindrops Keep Falling on My Head,” pays $5,000 a month for housekeeping.

The East Orange native also pays $4,000 for a personal assistant and another $11,940 in other monthly expenses, the bankruptcy petition stated.

Warwick, who filed Chapter 7 bankruptcy Thursday, has $25,500 in assets and $10.7 million in liabilities, according to the court papers.

Among the valuables listed in her bankruptcy petition: Two fur coats and two sets of diamonds earrings that have a combined value of $13,000; gowns and everyday clothing worth $5,000; and artwork and paintings worth $5,000.

Warwick owes nine years of back taxes, totaling $7 million, to the federal government and $3 million to the state of California, according to the bankruptcy petition.

h/t NJ.COM

Categories
money Politics presidential

Michele Bachmann Campaign Running On Fumes

And we are not talking about the exhaust fumes Sarah Palin likes to smell either. No, Michele Bachmann’s campaign is so broke, they can’t even pay attention…

Okay, okay…, back to the facts.

The New York Post reports;

Insiders are whispering that the Tea Party darling’s financials are grim and she may be out of the race before she makes it to the Iowa caucus in February, even though she has a strong base in the state. Sources tell us say Bachmann’s skeletal staff are holding their collective breath until the deadline to disclose her fundraising report on Oct. 15.

Meanwhile, we hear a computer vendor has called her campaign headquarters threatening to shut down the power due to an outstanding bill. Sources say she had about $400,000 at the beginning of September, but also stacks of bills.

“She does not like to ask for money. She should have been focusing on big donors about three months ago,” a source said. “She’s only cultivated low dollar donors with direct mailings and that’s hurt her.” But at a rally in Virginia yesterday, Bachmann declared that she does not intend to back out of the race. “We intend to be the comeback kid in this race,” she said. Her rep said, “None of that is true.”

 

Categories
Newt Gingrich Politics presidential Republican

Gingrich Campaign Is Financially Busted

ATLANTA –Newt Gingrich’s presidential campaign is more than $1 million in debt, according to his campaign disclosure provided to The Associated Press on Friday.

The former House speaker’s campaign raised $2.1 million since he got into the race earlier this year. But he spent $1.8 million, and listed $1.03 million in debt, including more than $100,000 in legal fees. Gingrich listed $322,222 cash on hand.

His campaigners said he had received contributions from 20,217 donors, with 17,959 donating $100 or less.

Gingrich’s White House bid has struggled since 18 staff members – consultants and advisers, including his two chief fundraisers – resigned earlier this year. He scaled back his spending, flying commercial airlines rather than taking corporate jets.

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