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Toni Braxton:

My Vegas Show Broke Me

10/7/2010 2:00 PM PDT BY TMZ STAFF

A close relative of Toni Braxton tells TMZ ... the singer's financial undoing can be traced back to her show in Las Vegas.

Toni Braxton broke.
The relative tells us Toni took out "show insurance" through Lloyd's of London for her act at the Flamingo Las Vegas Hotel & Casino back in 2006. 

And when Toni's heart condition started to act up  -- in the middle of the show's run -- she had to pull the plug, but she was still on the hook to the hotel for big bucks.  Toni expected Lloyd's to cover the loss but Lloyd's didn't, arguing Toni had an undisclosed, preexisting medical condition, rendering the policy void.

In the end, Toni had to absorb a huge loss, which the relative claims sent her on a downward financial spiral.

Still, it doesn't explain the bill for the Four Seasons and Tiffany & Co., for starters ...


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69 COMMENTS

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16.

Bob    

Make her do chapter 13 bankruptcy and pay everyone back on a payment plan!!!!!!!!!!!

1426 days ago
17.

Carl    

No one is going to admit they can't manage their money and the reason they are broke is their own fault. So no surprise here. My guess is she was financially on the edge to begin with and the Vegas show problems were just the final straw.

1426 days ago
18.

Bill F. Murray    

Kinda like our president's 'best laid plans'. Wait till our country has to repay all the debts he's racking up....

Posted at 10:33 AM on Oct 7, 2010 by moe l.
-------------------------
It costs money to dig out of the hole left by the previous administration. 2 years is not enough to fix the damage that political greed has done to our economy for decades. but no, blame the guy who's trying to think out of the box.

"When you’re finished changing, you’re finished."
-Benjamin Franklin

1426 days ago
19.

Nancy "O"    

Ummm. #4 said it all!

1426 days ago
20.

e33    

this is irrelevant because it's 2006. She filed BK back in 1998! Well before this SECOND "mishap." Idiot didn't learn her lesson the first time nor the second.

Excuses make you look like a liar toni...you get what you deserve :)

1426 days ago
21.

Tony    

For the future illiterate masses ...

Looser means "more loose than".

Loser means "one who loses".

While she may be looser than anyone else, unless you've slept with her there's no way for you to know that.

1426 days ago
22.

Bubbles The Chimp    

Umm Hmm. Yeah Yeah. Whatever, B*tch.

1426 days ago
23.

HumanNature    

@20 Seriously? You're really trotting out that poor dead horse yet again? LOL!!..
.
Yeah, I'm sure it IS difficult to dig yourself out of a hole when all you've done is QUADRUPLE the national debt, spent MORE of the American taxpayer's money than ALL previous administrations COMBINED, interjected the Govt into the private sectors of Banking, Housing, Automotive, AND Health Care, is currently working to grant amnesty to Millions of Illegal Aliens, and has been the most ineffectual, arrogant, and partisan President in the history of the country.
.
But yeah, you go right on ahead with your tired ol', "Bush Sucked!" Liberal mantra; and when that fails, I'll wait for you to play the 'Race' and 'Class Envy' cards as well.
.
See ya' at the polls!! LOL!!

1426 days ago
24.

Cookie    

That's so sad for her.

1426 days ago
25.

alltriple1    

When will she learn? She need to calm down her lifestyle. She wears thousand dollar shoes, 50 thousands dollars dresses, stays in the TOP of the Line hotels. EVERYTHING must be the BEST for MS. Bankrupt Toni Braxton.

1426 days ago
26.

Shanan Li    

My heart goes out to her, as she has a disabled child. But her bills show buying for her needs, not for treatment. I have a child with high medical cost and in debt for it, but still make my payments and getting my child better. I have holes in my jeans, and I cut my own hair. My van is rusty but will get it all paid off soon.

1426 days ago
27.

HumanNature    

What an idiot!

No pity for those who work so little and receive so much, only to blow it so easily.

Maybe if she had to actually work hard for her money she would appreciate its true value and not blow it like the fool she's been.

Cheers!

1426 days ago
28.

Tim    

Actually...I am in the insurance business and Lloyds of London is notorious for screwing people over like this on large claims. I have a client that is currently going to trial with Lloyds over the eact same thing. They did not check the person out medically even though all details were disclosed by the client. My clients is owed over $5 Million. I can only imagine how much a claim she had filed for. There may be some truth to Lloyds screwing her over.

1426 days ago
29.

debra burns    

leave toni alone she's not the only celeb. that has filed bankruptcy good luck toni

1426 days ago
30.

JLS    

Can you even imagine having the entire world critique your finances? Let's do Harvey's! He's a celeb. Let's delve into what he spends his money on and what he's worth. I bet there are some debts we won't approve of....

That's how stupid this is.

1426 days ago
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