TMZ

Our TV Shows

Got a Tip?

Call TMZ at (888) 847-9869 or Click Here

Bankrupt Toni Braxton

Accused of Fraudulently

Giving $53K to Husband

10/29/2012 12:30 AM PDT BY TMZ STAFF
EXCLUSIVE

1026-toni-braxton-tmz
Toni Braxton
fraudulently transferred $53,490 to her estranged husband in order to avoid paying back creditors in her bankruptcy case -- so says the trustee of Toni's bankruptcy estate.

According to new docs filed in Toni's ongoing bankruptcy case, Toni's estranged husband Keri Lewis received the 5-figure sum after Toni's money was already earmarked to repay creditors.

Now, the bankruptcy trustee is suing Lewis to get the money back -- much like John Mayer was sued for $465,000 following a giant Ponzi scheme collapse in Seattle.

TMZ broke the story ... Toni filed for bankruptcy in 2010, claiming she owed between $10 million and $50 million in debts.

A rep for Braxton tells TMZ, "All of the payments made to Lewis prior to Toni’s bankruptcy filing were appropriate transfers for reasonable and necessary personal and business expenses in the ordinary course of her business."

The rep adds Toni will continue to provide the trustee whatever info is needed to address the allegation.

75 COMMENTS

No Avatar
46.

Joel, JAMAICA    

why are people so mean for No Reason.. i will always Looooove Toni Braxton, her Voice! her Music! her Performances gives me life... with her string of Hit records she needs to start touring more

621 days ago
47.

LuvJones    

You know ... she probably really is just that dumb but let's not forget folks that this is EXACTLY how Donald Trump made his billions So maybe ... just maybe she might not be as stupid as we all may assume ....

621 days ago
48.

tim    

She is beautiful and very talented. I don't understand why she is bankrupt.

620 days ago
49.

Renee    

Sorry to hear about Toni's money issues. From my understanding when she filed the first time, Toni's medical issues where just diagnosed. She suffered a heart attack while in concert was hospitalized and learned she has Lupus, and was put on bedrest for months, so all of her concerts and whatever else she had going on had to be cancelled. I can not judge her. I wish her the best.

620 days ago
50.

blacksocialite    

Toni braxton did not go bankrupt because of money mismanagement. She signed a horrible record deal with l.a reid at a young age...and sold 20million albums but only received $2000 in royalties. They scammed her big time.

620 days ago
51.

Jen    

And all I'm wondering is how someone with millions could possibly be stupid enough to get in debt. I mean that doesn't just take stupid, that takes determination to continue to be stupid. We can barely live off our pay but we have no debts... if people who have a hard time making ends meet end up in debt I can understand. Rich people getting in debt are just a whole new narcissist kind of idiots.

619 days ago
52.

Tony King    

Yaw some hating ass people.Yaw need to fall up off Toni B. with them bull**** ass comments and comment on yaw own **** up ass ****.

619 days ago
53.

Tony King    

Yaw some hating ass people.Yaw need to fall up off Toni B. with them bull**** ass comments and comment on yaw own **** up ass ****.

619 days ago
54.

Tony King    

Yaw need to fall up off Toni B. And comment on yaw own bull****.I would not pay a mother ****er either.Udigg.

619 days ago
55.

Mrs. Saunders    

Toni Braxton did not file bankruptcy for living beyond her means. She got sick while under contract in Las Vegas. She was diagnosed with Lupus and was unable to continue performing however she was still responsible for all the production cost of the show.

618 days ago
56.

saingels    

Toni Braxton was not alone. Do you know Abraham Lincoln, Mark Twain and Walt Disney all have financial disasters. click here to find the book!
http://www.amazon.com/They-Went-Broke-Bankruptcies-Disaster/dp/0517220121/ref=sr_1_1?ie=UTF8&qid=1345110013&sr=8-1&keywords=they+went+broke

614 days ago
57.

Terrence    

this is her second bankruptcy you are correct this one is due to her health failing and her show being cancelled in Vegas which the insurance company would not cover the expense for therefore making her repsonsible for those expenses she would have been correct to file bk on that debt because in all actuality it wasn't hers in the first place. most of you people are quick to comment on something you know nothing about . The first bk was due to a contract that was ruled void by the courts in other words the record label made all the money off her back. how about we research something we are talking about before we start shooting off our mouths

545 days ago
Previous 15 Comments | 1 | 2 | 3 | 4

Around The Web