All posts containing the tag: "broke"
Posted Nov 17th 2009 1:18PM by TMZ Staff
The guy Nic Cage blamed for his financial ruin now claims by the time Nic hired him in 2001, "Coppola [Cage] had already squandered tens of millions of dollars... and owed millions of dollars in... income taxes, with no funds available to pay the tax debt."
In his countersuit obtained by TMZ, Samuel Levin, CPA, says when he was hired he warned Nic he needed to earn $30 mil a year just to maintain his lavish lifestyle.
As for the alleged lavish lifestyle ... Levin cites the year 2007, in which Cage bought 3 homes totaling more than $33 mil, 22 cars (including 9 Rolls Royces), 12 pieces of expensive jewelry and 47 pieces of art.
And Levin says, Cage spent most of his free time "shopping for high-ticket purchases," including 15 homes, a Gulfstream jet, and a flotilla of yachts.
And there's this: Cage "also spent huge sums taking his sizable entourage on costly vacations and threw enormous, Gatsby-scale parties at his residences."
The countersuit goes on: "The pinnacle of [Cage's] spending spree came with his Quixotic acquisitions of Midford Castle in England and Schloss Neidstein Castle in Bavaria." Levin claims he warned Cage the castles were "decrepit" and needed a king's ransom just to make them habitable.
Levin claims Cage owes him $128,872.98 in unpaid business management services.
UPDATE Nic's lawyer, Marty Singer, tells TMZ, "Levin's cross complaint is absurd. He was paid more than $1.3 million this last year-and-a-half. It's ironic he's making his claim for fees when he caused Nic to be in these financial problems while he was paid millions of dollars over the past several years to act as Nic's financial advisor."
Filed under: Celebrity Justice, Exclusives
Tags: 20 million, 20Million, broke, business manager, BusinessManager, coppola, financial ruin, FinancialRuin, nic cage, NicCage, nicholas cage, NicholasCage, samuel levin, SamuelLevin
Posted Sep 28th 2009 11:00AM by TMZ Staff
Pam Anderson -- former actress/financial maven -- is coming out with both barrels blazing to refute reports she's gone bankrupt.
According to an article that made the rounds, Pammy is allegedly more than $1.2 million in debt -- including over $600k to a construction company that filed a lien against her.
Pam released the following statement:
"It is true that I am in a dispute with some of the contractors working on my home. This is because after paying millions of dollars to build the house I continue to get bills from the contractors. My lawyers are reviewing the work done to see if the bills are fair. If they are, they'll be paid. If they aren't, they won't be."
But Pam does seem to hint at some financial issues, saying, "Mistakes may have been made in calculating taxes owed and we are now in the process of ensuring that any taxes owed are paid."
Warren Buffet, she ain't.
Filed under: Gossip/Rumors, Pamela Anderson
Tags: bankrupt, baywatch, broke, pam anderson, PamAnderson, pamela anderson, PamelaAnderson
Posted Jul 22nd 2009 1:05AM by TMZ Staff
Stephen Baldwin has really set himself apart from his brothers -- he's the broke one now -- because he just filed for Chapter 11 bankruptcy in New York.
Court docs show Baldwin and his wife owe $1.2 million in mortgages on their home 30 miles north of NYC, along with $1 million in taxes and $70,000 in credit card debt.
There is one small ray of hope for the couple: Their home wasn't auctioned off yesterday as planned -- it was postponed to a later date.
Tags: bankruptcy, broke, foreclosure, stephen baldwin, StephenBaldwin
Posted May 29th 2009 1:10PM by TMZ Staff
Welcome to Chapter 13 in the Scott Storch-is-broke-again saga -- today we've learned how the once-loaded music producer now has more debt than he has dollars.
Storch filed a bunch of papers in U.S. Bankruptcy Court, revealing that Scott owes $58,077.37 to 13 creditors in 7 states.
To put this in perspective, dude's net worth was reportedly $70 million in 2006.
Storch had produced music for Britney Spears, Christina Aguilera and Chris Brown. Now he has more in common with Suge Knight.
Tags: bankruptcy, britney spears, broke, christina aguilera, money, music, producer, scott storch, ScottStorch, suge knight
Posted May 2nd 2009 8:30AM by TMZ Staff
Lindsay Lohan possesses the power to turn nothing ... into bling!
With more free time on her hands than a grandmother in Boca Raton, LiLo was spotted out shopping for jewelry yesterday in Bev Hills with her sister Ali.
Considering she never works and complains of constant money problems -- where does she find the money to go on these vacations to Hawaii and trips to the jewelry store?
Filed under: Paparazzi Photo, Lindsay Lohan
Tags: broke, Lindsay Lohan, LindsayLohan, shopping
Posted Jun 11th 2008 5:00PM by TMZ Staff
The huge McDouche that is Scott Storch got a whole lot McDouche-ier -- as it turns out he's such a deadbeat dad that a Miami Judge wants him in the slammer. And it doesn't stop there.
As if owing $46,000 in child support isn't bad enough, Storch is over $500,000 in the hole because of unpaid property taxes on his $10.5 million Miami home. To make matters worse, Storch's other baby mama says he owes $5,000 in school tuition to his 16-year-old son (Storch is 34) -- and claims they were just evicted from their Florida home.
A Miami judge has issued a pick-up order for Storch, which authorizes cops to put him in the pokey until he can be taken to court.
Filed under: Celebrity Justice, Music
Tags: broke, scott storch, ScottStorch
