Scott Storch's Financial Troubles Continue, Producer M.I.A.
Published: Friday - July 18, 2008
Words by Miles Bennett
Scott Storch (Photo: XXL)
Scott Storch was once considered one of the "go to" producers in music. He was crafting hit after hit over the years, but as of late, his chart topping hits are few and far between, and reports of financial problems continue to surface.
His empire seems to be sinking, thanks to his lavish way of living, excessive spending, and poor money management, not to mention to downsizing music industry. Storch once commanded an estimated $100,000 per beat. But with the decline of music sales, labels refuse to pay those prices any longer.
According to reports, 34-year-old Storch is nowhere to be found these days. The Associated Press reports that Storch owes over $500,000 in real estate taxes for his $10.5 Miami waterfront mansion, and previously had warrants out for his arrest for not turning up in court in his child-support case in June.
"I think he's embarrassed," Vanessa Bellido, the producer's ex-girlfriend and the mother of Storch's first son Steven, told the AP. "I don't think he’s going to be right until he has his money."
Storch no longer works with his old manager or publicist. Both say they haven't seen or talked to him in months, and the same goes for his children.
His child support lawyer, Guy Spiegelman, cites mismanagement for Storch's downfall. He is reportedly trying to refinance his Miami home to recover from the tumultuous year, which he cites as "mismanagement."
"There was some mismanagement and some other errors," Spiegelman said. "He got jammed. I don't think he's going down, I just think he's having difficulty. It's a cash flow problem."
Storch, according to Rolling Stone, had earned $70 million in 2004 and dubbed him "hip-hop's Liberace." He dated movie and music celebs such as Lil Kim and Paris Hilton. His excess spending though, has put a damper on his relationship with his sons, Steven and 2-year-old Jalen Daniel, who he birthed with Dalene Jennifer Daniel. Bellido and Daniel say the producer is inconsistent with child support, but is not a deadbeat dad.
"Once able to get his attention, he stepped up to the plate and did the right thing across the board," Jason Setchen, Daniel's attorney, told the AP.
"Scott's not a bad person," added Vanessa Bellido. "I know he loves his son. He's been irresponsible."
To date, Storch hasn't shown up for his child support hearings, but his lawyer has said that he has since paid Daniel the money she was owed, and the arrest warrant was lifted.
"I'd like to see him do the right thing so we can move on," Setchen says.
To date, Storch hasn’t shown up for his court cases, but his lawyer has said he will meet his financial obligations. He recently paid the money owed to Daniel’s and the arrest warrant was lifted.
Editorials & Columns Hustle Harder: Travel Arrangements Recently I traveled down to Washington D.C. to participate in an event called the "Million DJ March," and I realized ... full story
Digg It
Del.icio.us
