Toni Braxton Alleged In Ponzi Scheme
Toni Braxton has claimed bankruptcy before. The concept is rather hard for us to imagine. She is one of the most charismatic and talented singers of today, and constantly creates these hits that are always being played by dj's around the world. Toni Braxton is a beautiful single mother of two children. The Hollywood actress and singer is well known for wearing provocative clothing and some even believe that she is too sexy!
So how does a woman who constantly bring in millions of dollars keep ending up announcing they are bankrupt? As a huge Toni Braxton fan, I once speculated that the government was harassing her.
Toni Braxton has been accused of fraud and her semi-estranged husband Keri Lewis has also been implicated. Supposedly Toni Braxton transferred $53,490.00 dollars to her estranged husband in order to prevent paying back creditors in her bankruptcy case. This is what the trestee of Toni Braxton's bankruptcy estate claimed.
TMZ reported:
According to new docs filed in Toni’s ongoing bankruptcy case, Toni’s estranged husband Keri Lewis received the 5-figure sum after Toni’s money was already earmarked to repay creditors.
Now, the bankruptcy trustee is suing Lewis to get the money back — much like John Mayer was sued for $465,000 following a giant Ponzi scheme collapse in Seattle.
When Toni filed for bankruptcy the last time in 2010, she claimed she had between $10 million and $50 million worth of debt stemming from the cancellation of her Vegas shows due to her health issues. The $50K she allegedly transferred to Keri wouldn’t have even put a dent in that debt but the law is the law. According to Toni’s rep, she followed it though, saying in a statement:
“All of the payments made to Lewis prior to Toni’s bankruptcy filing were appropriate transfers for reasonable and necessary personal and business expenses in the ordinary course of her business.”
Interestingly, on tonight’s VH1 “Behind The Music” special with Toni, she talks about her first bankruptcy in 1998 and the infamous interview with Oprah Winfrey in which the daytime talk show host lightweight went in on her for her financial choices. I believe this was also when Oprah said she signs every last one of her checks. Anyway, Toni didn’t appreciate the “lesson,” telling VH1:
“She was so frickin’ mean to me, I was in shock. I couldn’t believe it because I loved her so much. I looked up to her and she pretty much reprimanded me.
“She says to me, ‘I hear you have Gucci flatware; I’m Oprah Winfrey and I don’t have Gucci flatware’…You didn’t have Gucci flatware because you didn’t wanna buy it; it’s not because you couldn’t afford it. What do you mean? Immediately she made me feel this big. That moment changed my career. It made people look down on me.”
So how does a woman who constantly bring in millions of dollars keep ending up announcing they are bankrupt? As a huge Toni Braxton fan, I once speculated that the government was harassing her.
Toni Braxton has been accused of fraud and her semi-estranged husband Keri Lewis has also been implicated. Supposedly Toni Braxton transferred $53,490.00 dollars to her estranged husband in order to prevent paying back creditors in her bankruptcy case. This is what the trestee of Toni Braxton's bankruptcy estate claimed.
TMZ reported:
According to new docs filed in Toni’s ongoing bankruptcy case, Toni’s estranged husband Keri Lewis received the 5-figure sum after Toni’s money was already earmarked to repay creditors.
Now, the bankruptcy trustee is suing Lewis to get the money back — much like John Mayer was sued for $465,000 following a giant Ponzi scheme collapse in Seattle.
Interestingly, on tonight’s VH1 “Behind The Music” special with Toni, she talks about her first bankruptcy in 1998 and the infamous interview with Oprah Winfrey in which the daytime talk show host lightweight went in on her for her financial choices. I believe this was also when Oprah said she signs every last one of her checks. Anyway, Toni didn’t appreciate the “lesson,” telling VH1:
“She was so frickin’ mean to me, I was in shock. I couldn’t believe it because I loved her so much. I looked up to her and she pretty much reprimanded me.
“She says to me, ‘I hear you have Gucci flatware; I’m Oprah Winfrey and I don’t have Gucci flatware’…You didn’t have Gucci flatware because you didn’t wanna buy it; it’s not because you couldn’t afford it. What do you mean? Immediately she made me feel this big. That moment changed my career. It made people look down on me.”
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