Nicole Murphy’s Big Payout is Gone with the Wind

by Minority Fortune

nicolemurphyIn the midst of holidays, Nicole Murphy is battling massive debt. The ex wife of Eddie Murphy has managed to squander away her $15 million payout in just four years. After their divorce in 2006, Nicole had the option to get a one-time payout or receive monthly alimony payments. Nicole opted for the former. Now she’ won’t be receiving any major income. We imagine her current income comes from the five children that she shares with Eddie. However, that will only last for so long.

Assuming that Nicole only blew through $15 million would be incorrect. Her financial state is becoming known through the unpaid bills that are becoming public. There’s still much debt that is owed by Nicole.

The National Enquirer reports:

The IRS has slapped her with five tax liens totally $846,630, and she has put her opulent mansion up for sale.

“Nicole made some bad investments with the fortune she got from Eddie, and now she is in serious financial straits,” said a friend of the 42-year-old stunner.
Court records show that the IRS slapped Nicole with two liens for back taxes in November totaling $214,688.

That huge bill was on top of outstanding judgments against her for nearly $600,000 by a legal firm and another $60,000 demand for payment by a landscaping company. She also owes $5 million on her Los Angeles-area home.

“Nicole is overwhelmed by the mountain of debt she has piled up,” added the source. Nicole, who has five children with Eddie, invested in an Internet jewelry business, but the venture quickly failed and Nicole lost most of her money.”

It seems that Nicole is short the $5-6 million extra that she managed to spend in credit.

Nicole is in dire need of some financial planning. She should have known that $15 million is not enough to live a high-end lifestyle. Her internet business was a great attempt at financial wealth, but she should have drastically curbed her spending in order to build her business. Let’s hope a couple of her resolutions for next year have something to do with being financially literate.

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