Toni Braxton Bankruptcy

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."

Toni -- who filed for bankruptcy last year claiming she was between $10 and $50 million in debt -- was ordered to complete the course as a part of her case ... and earlier this month, she got it done.

According to the certificate, obtained by TMZ, Toni passed an "Internet instruction course concerning personal financial management."

43-year-old Braxton went to her Twitter this morning and wrote, "New Year, New opportunities. So I have been considering taking up Playboy's offer to feature me on their cover this year. What you think?"

She noted the spread would be "tastefully done" featuring "Just a lil T and A."

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 ...

Braxton -- who sold more than 40 million albums in her career -- just filed for Chapter 7 bankruptcy in California ... and in the docs, the singer claims she's only worth somewhere between $1 mil and $10 mil ... but she could have up to $50 mil in debts.

In the docs, 43-year-old Braxton lists a ton of creditors to whom she thinks she may owe money... including:

Braxton also claims she may owe money to the City of L.A. Parking Violations Bureau -- and the DMV in both California and Nevada.

Braxton has a storied history of financial problems -- she filed for bankruptcy back in 1998 ... and earlier this year, the IRS filed a lien against her for $396k.

Pop diva Toni Braxton has been battling health problems for the last few years -- and she might need all her strength to pack up her stuff and move ... cause the bank is coming after her home.

According to documents filed last month, Braxton has defaulted on her mortgage payments -- and now Bank of America is looking to foreclose. They claim she owes $12,503.20 on a place in Century City, Calif.

The wardrobe designer who made costumes for Toni Braxton's Las Vegas show is suing the songstress, claiming she bounced a check for his designer duds. Un-break my bank account!

According to court papers filed on Friday, Anthony Franco was commissioned by Braxton and Liberty Entertainment, Inc. to design the entire wardrobe for Braxton's "Toni Revealed" show. Franco claims they agreed on a price of $35,000. Franco alleges that he received payment by check, which was returned for "insufficient funds." He then alleges the defendants put a stop payment on the check.

In the lawsuit, Franco claims he was eventually paid $20,000, but there is still a $15,000 balance. Braxton's show at the Flamingo Hotel began last August and is still going strong.

With tickets starting at $69, it doesn't cost a fortune to see Toni Braxton's Las Vegas show "Revealed," but her mic sure does.

Braxton has struck a deal with The Giantto Group, a high-end jewelry company, to use their one-of-a-kind Million Dollar Microphone (TM) throughout the run of her show.

The mic is made of white gold and encrusted with 650 karats of diamonds ... enough bling to make even Diddy jealous.

Regarding the pricey prop, the six-time Grammy winner, who filed for bankruptcy in the 90s, said "It's so extravagant, like taking a bath in Dom Perignon. I love it!" Bathing in champagne? That's not extravagant -- just stupid!