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January 27, 2009

Credit crunch hits hip hop stars: 'These guys are like the R’n’B equivalent of reckless banks'

Daily Star | Read Full Story >

Daily Star:

Among the victims is Wyclef Jean, who is now a genuine re-Fugee after losing his Malibu mansion.

And Damon Dash, friend of Victoria Beckham, has gone from Roc-a-fella Records boss to stoney broke as he can’t keep up payments on a mega £5.3million mortgage.

Other R’n’B big-hitters being stripped of their properties include top producer Scott Storch, who saw his Miami mansion repossessed last year.

Also facing eviction are rap icon Doug E Fresh and TLC singer Tionne Watkins, while American Idol winner Fantasia Barrino narrowly saved her home from auction.

A music industry insider said: “These guys are like the R’n’B equivalent of reckless banks.


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#1 E.E. McCoy says:

HA HA HA...LOL...LOL...why don't you pawn some of that bling?....now try to go to a real job like the rest of us. Anybody that makes that kind of money and then ends up broke is an idiot.


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