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Aaron Carter Files for Bankruptcy
Posted by Andru Edwards Categories: D-List, Music,
Aaron Carter has filed for bankruptcy with a debt of $2.2 million.
The "Candy" hitmaker and younger brother of the Backstreet Boys' singer Nick Carter has reportedly been dealing with crippling debt, while earning just $1,998 a month. The 25-year-old owes $1.3 million in unpaid tax and $31,166 on an American Express credit card, among other debts.
"Aaron filed for Chapter 7 Bankruptcy protection to alleviate past issues in an effort to move forward with his life and career. The overwhelming majority of the debt he is asking to be discharged is from more than 10 years ago when he was a minor and not in control of his finances," his representative Steve Honig told E! News.
Aaron first shot to fame in the late 1990s. His most popular album, Aaron's Party (Come and Get It), was released in September 2000 and sold over 1.5 million copies. Despite his financial problems, Aaron has pushed on with his music comeback and continues to play concerts. Although he has not released an album since 2002, he appeared on reality show Dancing with the Stars in 2009 and is currently on tour.
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Lauryn Hill Released from Jail
Posted by Andru Edwards Categories: Music, Legal Issues,
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Lauryn Hill has been released from jail. The former Fugees singer has left federal prison after serving a three-month sentence for tax evasion, TMZ has confirmed.
The "Killing Me Softly With His Song" singer was released early yesterday morning from the minimum security Federal Correctional Institution in Danbury, Connecticut. Lauryn was locked up on July 8 after failing to pay taxes of more than $1.8 million in income she earned between 2005 and 2007. Her sentence also took into account income and tax losses for 2008 and 2009, taking the total to approximately $2.3 million.
The 38-year-old star has been using her time behind bars wisely, channelling her energy into her new track "Consumerism," which she wrote before going to jail and worked to get ready for release while inside. "She wanted to get this music out while she was incarcerated, as it is a product of the space she was in while she was going through some of the challenges she has been faced with recently," a post on her official website reads.
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Dolce and Gabbana Headed to Jail?
Posted by Robin Paulson Categories: Fashion Designers, News,
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Looks like fashion designers Domenico Dolce and Stefano Gabbana will soon be trading in their designer duds for some blasé prison jumpsuits.
Prosectors in the Italian creatives' tax evasion case are seeking to have them thrown in jail for not having paid €400 million in taxes, seeking to get them five years in prison between the two of them (I guess tax attorneys are less harsh when it comes to sentencing female singers).
The tax evasion case has been a long time coming, as the pair's accounting habits became suspect with their 2004 sale of their D&G and Dolce & Gabbana brands to holding company Gado, which is based in Luxembourg. Tied to the alleged tax crime was their board member Cristiana Ruella and accountant Luciano Patelli, both of whom have been previously prosecuted (Patelli was sentenced to three years in jail).
While it's disheartening to think that one of fashion's most beloved fashion duos are facing length prison time, one must wonder who will take over the reigns and emerge as the next talent in the industry?
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| Huffington Post
Watch this: Apple CEO Tim Cook’s 90-minute D11 interview
Posted by Andru Edwards Categories: Apple, Corporate News, Google, PC / Laptop, Videos,
Yesterday evening, Apple CEO Tim Cook took the state at the 11th annual D: All Things Digital conference, and spoke about many topics relating to Apple. During the D11 interview, Walt Mossberg and Kara Swisher hit Cook with tough questions, most of which were answered with just enough information so as not to give away specific future plans. Talking points include wearable computing, changes coming to iOS, Apple stock price, taxes, and more. We've got the full 90-minute interview video for you after the break--check it out.
Click to continue reading Watch this: Apple CEO Tim Cook’s 90-minute D11 interview
Mary J. Blige Faces $3.4 Million Tax Bill
Posted by Andru Edwards Categories: Music, Legal Issues,
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Mary J. Blige has been handed a $3.4 million tax bill.
The "No More Dramas" singer faces paying the huge amount after being accused of avoiding her US federal taxes for three consecutive years from 2009. In addition to her federal taxes, the 42-year-old star also reportedly owes the State of New Jersey over $900,000 in back taxes.
Mary's money woes do not end there, as she was sued earlier this year for allegedly defaulting on a $500,000 bank loan which she took out between 2005 and June 2012. In another lawsuit, filed last November, the singer and her husband, Martin Isaacs, were also accused of defaulting on a $2.2 million loan from Manhattan's Signature Bank. The financial institution is seeking the full loan amount, alongside $58,000 in interest.
This is not the latest financial setback for Mary, after her charity, The Mary J. Blige and Steve Stoute Foundation for the Advancement of Women Now Inc., was accused of mishandling funds and failing to pay back a loan last year.
Lauryn Hill Jailed
Posted by Andru Edwards Categories: Music, Legal Issues,
Lauryn Hill has been jailed for three months for tax evasion.
The 37-year-old former Fugees singer was told by a court in Newark, New Jersey that she will also have to spend three months on house arrest and nine months of supervised release, despite her attorney claiming during the hearing yesterday that she had managed to repay more than $970,000 of her debt.
Lauryn - who pleaded guilty last year to three counts of tax evasion for failing to file returns on $1.8 million she earned from 2005 to 2007- had asked for leniency because of her six children and charity commitments. She insisted she had always intended to pay but couldn't return to music to earn the money because of her family.
"I needed to be able to earn so I could pay my taxes, without compromising the health and welfare of my children," she said.
Click to continue reading Lauryn Hill Jailed
Mary J. Blige Owes $900,000 in Taxes
Posted by Andru Edwards Categories: Music, Legal Issues,
Mary J. Blige has been slapped with a huge tax bill. The 42-year-old singer - who was sued earlier this month for allegedly defaulting on a $500,000 bank loan - owes $901,769.65 to the State of New Jersey.
According to documents seen by gossip website TMZ.com, the 'No More Drama' singer owes the huge sum in back taxes and it is the latest in a string of financial problems for the star. A lawsuit filed by Bank of America in New York State Supreme Court earlier this month accused her of failing to make re-payments on a $500,000 loan she took out in 2005 since June 2012.
In another lawsuit filed last November, the singer and her husband, Martin Isaacs were also accused of defaulting on a $2.2 million loan from Manhattan's Signature Bank. The financial institution is seeking the full loan amount, which was taken out in October 2011 and due to be paid back by July 2012, along with $58,000 in interest.
The "Family Affair" singer's production company, Mary Jane Productions Inc., was also named in the lawsuit.
Click to continue reading Mary J. Blige Owes $900,000 in Taxes
Pamela Anderson Heading Back to Therapy
Posted by Andru Edwards Categories: Television, Features,
Pamela Anderson is going back to therapy.
The former Baywatch babe - who was the first voted off UK TV show Dancing on Ice last night - says she is planning to return to her long-standing therapist after enduring a tough few years.
"I've had some interesting therapists. I haven't been in a long time. I probably should go back. I've been working non-stop, digging myself out of a construction hole. The house just enveloped me financially and I didn't know how to handle it. It happens to a lot of people in Hollywood. It was a very stressful couple of years. I still owe the taxes but I'm working on that. I'm paying that off monthly. I was in a bizarre situation with a former business manager. I don't want to blame anyone. I want to put it behind me and move forward," said Pamela, who was left virtually broke after building her dream home before being given a huge tax bill.
Click to continue reading Pamela Anderson Heading Back to Therapy
Charlie Sheen: Lohan Hasn’t Thanked Me for the Money
Posted by Andru Edwards Categories: Movies, Television, Kind Acts,
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Charlie Sheen is unhappy that Lindsay Lohan never thanked him for giving her a reported $100,000.
The Anger Management star generously helped out his Scary Movie 5 co-star when he heard she was having financial difficulties after not being paid for one of her projects but Charlie admitted he is unimpressed that the 26-year-old actress accepted money from him but didn't acknowledge it.
"She got shorted and I found out, so I said: 'Here.' I'm still waiting for a text to say 'Thank you.' Anything, you know?" he told Entertainment Tonight.
Meanwhile it has been revealed Lindsay is struggling to pay her rent and has been scraping together all the money she can in order to pay $8,000 per month for her Beverly Hills mansion in Los Angeles. Lindsay signed the contract for the luxury home in February, when it was believed her career was getting back on track and she was earning more money, but a source has revealed that once her finances hit trouble she resorted to calling on her friends to help pay her way.
Click to continue reading Charlie Sheen: Lohan Hasn’t Thanked Me for the Money
Lindsay Lohan Selling Designer Clothes for Cash
Posted by Andru Edwards Categories: Movies, Clothing, Rumors,
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Lindsay Lohan is reportedly selling her designer clothes.
The troubled 26-year-old actress has enlisted the help of her younger sister Ali to make some quick cash after her bank accounts were recently seized by the Internal Revenue Service (IRS), sending her 18-year-old sibling off to high end vintage clothing store Wasteland to flog some of her most valuable clothes, shoes and accessories.
The Liz & Dick star owed $233,904 in unpaid federal taxes in 2010 and despite being given $100,000 by her good friend Charlie Sheen, she still fell dramatically short of what she owed for 2011 and has now resorted to selling her personal effects to make up the sum.
Ali was seen arriving at the Los Angeles shop with several bags bursting with designer wares, but was shocked when the manager offered her a great deal less than she was expecting.
Click to continue reading Lindsay Lohan Selling Designer Clothes for Cash
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