Scott Storch Still Got Money Issues, Sells Boat On EBay?
Saturday - March 15, 2008By: Paulie Soprano
The rumors of superproducer Scott Storch having financial troubles continue.
Last month, Storch was sued by a record label owner in Los Angeles, claiming the producer borrowed $100,000 in 2003 so his home wouldn't go into foreclosure and never paid him back. He sued, saying Storch now owes him $500,000 -- $100,000 for the unpaid loan and $400,000 for four tracks he was supposed to produce as a part of the loan (valued at $100,000 a piece).
Now, Scotty seems to be still hurting for cash. His yacht, named Tiffany, has recently popped up on Ebay. The 1995 Norship/Davenport, which was purchased in '95 for $11.9 million, it up for auction. In the item's description, it says "owner bought her and got short on money."
We're not sure if this yacht still belongs to Storch, but it used to, we're sure of that. Due to the recent reports of the producer having troubles with his finances, it seems to fit. The boat was previously valued by Rolling Stone at a cool $20 million.
So, my question is, is Scotty that dumb? How can you have the kind of money to buy things like a $1.7 million Buggatti, a Mercedes, a Bentley, a Lambo and a mansion in Miami, and be going broke?
I wrote a column about this in December after the NY Post's Page Six reported that Storch wasn't able to a bar tab after a night of partying at a Miami Club. In fact, they said his credit card was declined.
This dude was reportedly worth $70 million in 2006, and just a year later, in August 2007, Forbes said Scotty was worth just around $17 million.
Now, that's some out of control spending if you ask me. If it continues, he might have to start selling beats for a bargain price to make ends meet...
Better get a grip Scotty, you ain't ballin' no more... at least it looks that way.
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