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Fallen Heavyweight Producer Scott Storch Files For Bankruptcy, Again

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Fallen Heavyweight Producer Scott Storch Files For Bankruptcy, Again

Scott Storch produced songs for some of music's biggest stars, including Chris Brown, Beyonce, Justin Timberlake, and Christina Aguilera, but he has nothing to show for it.

According to TMZ, the fallen producer filed new bankruptcy documents, claiming to have only $3,600 in assets including $100 in cash with the rest tied-up in clothing and a watch. In addition, Storch states that he made just $10,000 last year, and his music companies are valued at zero.

That's well below a minimum wage employee, especially for someone who banked over $70 million in personal wealth.

In the early 2000s, Scott was a main go-to producer, but due to bad money management in support of his wealthy lifestyle, he blew his fortune on traveling, parties, cars, cocaine and other extravagant trappings.

"I would always be going from L.A. to Miami to New York, to Russia, St-Tropez," Storch told Billboard last year. "Costs about $50,000 for a domestic flight, $250,000 for overseas. Yeah, that's an expensive habit."

Storch filed his first bankruptcy protection (Chapter 13) in 2009, during the time he lost his lavish mansion. He was also arrested for grand theft auto for failing to return a 2004 Bentley GT that he had leased, allegedly for Lil' Kim.

Damn shame!

[Billboard]

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