Bad Celeb Financial Woes End Out 2011

by Minority Fortune

We’re at the onset of a new year. You would think that people at the end of the year would be making preparations to welcome in the new year in the best way possible. Apparently, people have a different way of celebrating the end of the year: avoiding debts, bitter divorces and child support cases, among other things. We’ll highlight a few of the stories that stood out. What’s the underlying theme? Fiscal irresponsibility. Who wants to bet that these individuals had an extravagant Christmas?


Nelly Neglects His American Express Debt

Nelly has been quiet on the music scene for awhile now. While there’s been alleged rumors all these years that the hip hop artist was having financial issues, no bankruptcies were ever filed. Now the media including TMZ reveals that American Express comes forth stating that Nelly has failed to repay his $20,403.64 balance. Now a lawsuit has been filed in hopes of recouping the balance along with an estimated $3,000 in lawyer fees.

Our Thoughts: Not a good look. There isn’t sufficient information on the situation around the case. Perhaps there’s a dispute regarding the payment. It’s definitely something that should be resolved, and if Nelly simply neglected to pay it because he wants a little more drinking, gambling, or strip club money, then he deserved the lawsuit. Otherwise, we’ll await further news before we fully judge. If he’s beginning to become financially irresponsible, the new year awaits many, many more filings to come.


Eddie Murphy’s ex-wife Cheated Out of $7 million

A year ago, news broke that Nicole Murphy was having financial issues. Well, Troy Stratos probably had a lot to do with that. TMZ  reported that the ex-wife of Eddie Murphy was conned out of $7 million by this scum. Stratos became her financial adviser, purporting to be investing her money overseas. Meanwhile, he was simply pocketing the money for himself. Then, it got worse. Nicole allowed Stratos to become responsible for selling a home that she wanted to sell. However, Stratos secretly lived there. He even had the nerve to ask for refinancing fees for the house that unsurprisingly ended up in his pocket for his own lifestyle.
Our Thoughts? Conmen are the worst. We’re always baffled by these types of individuals that expend all of their energy and talents on illegal, immoral activities when they have the potential to create legitimate businesses. They’re sociopaths that are good at connecting with people and pulling the wool over their eyes. We couldn’t be happier that he’s been exposed, and we hope his indictment will give his victims some comfort. However, this has to be a lesson, that no financial advisor should have complete control over your assets. Everyone should be responsible for their own money, regardless of how much assets they have. Take a page out of Oprah and Bill Cosby’s book and sign each check that is associated with your personal and business accounts. What happened to Nicole Murphy and his other victims is most unfortunate.


Antoine Walker Hasn’t Paid Child Support in 2 Years

The poster child of hardly wealthy behavior has defied responsibility once again. Antoine Walker hasn’t paid child support in over 2.5 years to his ex Donna Grant. That would indicate that he’s void of any income to meet the responsibility. However the Sun Times reports that “he got his court notice while partying at a local nightclub” and that his ex “had been trying to get him in court since May”. Our thoughts: It’s pretty pathetic that Antoine had to be flagged down in a club to be served. Even if Antoine doesn’t have a penny to his name, he should be responsible enough to reach out to his ex in order to reach a compromise in regards to the financial responsibility of his child. A man that doesn’t care to contribute to his child’s wellbeing emotionally, physically, and financially is a sorry man indeed. Being in the club when you can’t even pay child support is pathetic all by itself. How can you be so broke yet afford transportation and party money? We hope the courts give Antoine the rude awakening that he needs.

*Images courtesy of Mrs Grapevine, Jukeboxdc, & Las Vegas Sun.
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