Braxton Family Values Star Towanda Braxton Faces FRAUD Charges

Braxton Family Values star, Towanda Braxton has had a year of legal drama that looks like its going from bad to worse. After filing BANKRUPTCY earlier this year, the sister of the legendary Toni Braxton and the infamous Tamar Braxton is being SUED by her former landlord for being FRAUDULENT about her ability to pay. (YES… She was renting the suburban Atlanta home we saw her in on the WE tv show.

Although Towanda filed Chapter 7 bankruptcy back in April– citing $277,650 in assets but $547,056 in liabilities, her former landlord Michael Waggoner followed up with his own lawsuit, saying she was LYING about her assets and income and owes him $76,000 over unpaid rent and damages from the Atlanta home she RENTED from him. He does not want the debt wiped out in the Chapter 7 personal bankruptcy proceedings.

According to the Blast, Braxton is set to be deposed about the Waggoner situation on November 21.

Vanilla Ice cleared in foreclosure lawsuit

Vanilla Ice can stay in his house… at least for now.

In a foreclosure lawsuit filed this week in Palm Beach County Circuit Court, the homeowners association at the gated Versailles neighborhood in Wellington claimed Robert Van Winkle (his legal name) owed it about $4,000. Why? Because they wanted each homeowner to pay a special assessment to replace some palm trees after Hurricane Wilma destroyed them in 2005. The Vanilla Ice Project star never coughed up the money; hence the suit.

The singer’s lawyers told TMZ that Ice had been “unaware of any outstanding charges,’’ but it’s now resolved. A new season of the DIY Network show starts Jan. 21.

RAPPER YOUNG BUCK FILES FOR BANKRUPTCY, MAY LOSE NICKNAME

You remember the hip-hop group called G-Unit, headed by rapper-turned-actor 50 Cent?  Since their rise to fame, one of its members has fallen on tough times and is currently in the midst of a Chapter 7 bankruptcy filing.

Young Buck was born David Darnell Brown. His participation in the aforementioned group and the recording label of the same name allowed him to become a multiplatinum music star and surely allowed him to gain a considerable amount of money. But now that he has filed for bankruptcy, some are wondering what went wrong and how bad it will be.

The man apparently owes the Internal Revenue Service for unpaid taxes and also owes child support to a former partner. On top of all of this, reports indicate that he owes more than $10 million to G-Unit Records and 50 Cent!

Currently, the recording label and 50 Cent are in a contract dispute with Brown.

But some of the worst news came after the rapper’s bankruptcy trustee had his bankruptcy case converted from a Chapter 11 reorganization to a Chapter 7 liquidation. His trustee decided that it would be best to sell the rights to Brown’s trademarked nickname, Young Buck.

According to the rapper, that name has been with him since he was 12 or 13 years old. He said that his mother calls him by that name and that it should not be sold because of the fact that he owes money.

Besides his name, many of Young Buck’s assets will be taken from him and sold by his trustee to repay the groups that he owes. But when the bankruptcy case is closed, he will have very few outstanding debts, if any at all. While it may seem painful now, bankruptcy should be viewed as a chance to start fresh financially.

In a glimpse of hope for the rapper, there was some rumors floating that he would have a chance at a fresh start. A couple of days ago, Cash Money Records CEO Birdman has stepped forward to address rumors and speculation suggesting Memphis rapper Young Buck and West Coast hip-hop artist Lil B are on the verge of joining his team.

While he admits both artists have his respect, Birdman said there is no truth to the speculation. 😦

“Both of them is two of the little homies I have the utmost respect for,” he said. ” I don’t know Lil B’s situation. I don’t know Buck’s situation. I’m friends to both of them. If the opportunity ever came, I would love to work with both of them. I know Buck is in a situation. I really don’t know Lil B’s situation, he’s real cool with my son [Lil] Wayne. I got love and respect for both of them, but they never came across the menu ye — I spoke with Buck a few times, he’s been a friend of the family. B is a friend of the family. But it ain’t came to none of that. Not to this point. We like to be new, young. My son [Wayne] does the newer acts [on Young Money]. On our side [Cash Money] it be more veteran.”

Source: Los Angeles Times, “Bankrupt rapper Young Buck may have to sell his name,” Dec. 25, 2011 & SOHH,  “Birdman Addreses Young Buck and Lil B Cash Money Signing Rumors” Jan. 9, 2012.

Another Broke R&B Singer? R Kelly’s Chicago-area house listed as short sale

The suburban Chicago mansion of Grammy-winning singer R. Kelly is on the market.

A real estate listing shows the 22,000-square-foot mansion in Olympia Fields with a $1.595 million price tag. It’s a short sale, meaning Kelly owes more on the house than it’s worth.

A guard shack sits inside the gates of R. Kelly's mansion in Olympia Fields. (John Smierciak/Chicago Tribune)

Kelly custom-built the 16-room gated mansion in 1997. The house includes eight full bathrooms, four fireplaces, an indoor pool, sauna and theater room. There’s also a private lake.

Over the summer the house was the subject of a $2.9 million foreclosure lawsuit because Kelly reportedly failed to make monthly mortgage payments for more than a year.

Kelly’s spokesman, Allan Mayer, says the singer hasn’t lived in the home for more than a year.

Records also show that the “I Believe I Can Fly” singer has been renting a high-floor unit in the Trump Tower in downtown Chicago.

Another former property of the singer’s also has made news in recent months, with the 11-room, 8,000-square-foot Lakeview mansion that Kelly once owned selling in August for $2.64 million. Kelly had owned that residence from 1994 until selling it in 2002 for $2.25 million.

It was in that house where Kelly had been accused of having made a sex tape with an underage girl.  Kelly denied that he was the man in the tape, and he was acquitted of child pornography charges stemming from that tape in 2008.

Source: Associated Press; Chicago Tribune

Master P Sued for $240,000 in Unpaid Wages in Bankruptcy Court

Music mogul Master P, who was once one of the world’s highest paid rappers, reportedly worth almost $600 million looks to be on the verge of bankruptcy. Like some other prominent Hip Hop and R&B moguls like Damon Dash, Jermaine Dupri, and R. Kelly, P looks to be in facing financial disaster. According to reports, Master P is being sued by a group of crew members from his 2003 film, Uncle P, for $240,000 in unpaid wages.

According to court documents obtained by TMZ, several members of the crew sued the rapper back in 2005 and WON — but P never forked over the cash.

Now, the class has taken their case to the U.S. Bankruptcy Court in Los Angeles, California, hoping to finally receive their money as well as push Master P into bankruptcy so that an independent trustee will be appointed to manage the mogul’s assets.

This may get UGLY.

RollingOut and TMZ contributed to this report.

Real Housewives of NY Star Sonja Morgan May Lose Her Townhouse

More bad news for Sonja Morgan, star of The Real Housewives of New York. According to the New York Post, Morgan may lose her Upper East Side town house valued at $6 million.   😦

“I’m sure the world thinks, ‘Sonja doesn’t have to worry, she’s got that husband there for her.’ But I’m on my own,” Sonja said.

 

According to court documents, Sonja claims that John Adams Morgan, her wealthy 80-year-old ex-husband, is refusing to pay her a $3 million divorce judgment and $300,000 in back alimony.

Morgan is crying broke — attesting that while her ex lives on his private, $19 million island off Stamford, Conn., he has effectively barred her from selling or even visiting luxurious properties she co-owns with him in Colorado and France.

Her ex’s attorney, Norman Roberts, said his client is appealing the judgment because he believes the judge made him pay more than he agreed to in pre- and postnuptial agreements.

Last fall, Sonja filed for Chapter 11 bankruptcy protection.
Read more: http://www.nypost.com/p/news/local/manhattan/reeling_housewife_3KZvS092mOxETXZFlhiznM#ixzz1RGtUDn7o