Scott Storch can’t catch a break, can he? After revealing to the world (via an MTV report) that his fast life — consisting of drugs, partying and lavish living — had cost him almost all his fortune, he is now being ordered to cough up $750,000 to a Miami actor over a business dispute.
According to the Miami Herald, actor/film producer Matt Sinnreich sued Storch, claiming the producer left him high and dry after agreeing to form a company with him in June 2007.
The allegedly agreed to form a company where they would sign and produce singer Sindy Espitia and rapper Darrell “D Shep” Sheppard, both of Miami. Sinnreich paid Storch $25,000 for 25% of the corporation, but Storch “failed to form the corporation … and failed to return the $25,000,” court documents stated.
Citing breach of contract and civil theft, he filed a suit against Storch. The producer failed to respond to the complaint, and a judge granted Sinnreich’s motion for default last December. Jurors decided how much in damages Storch owed, which came to a $750,000 verdict.
Sinnreich is currently trying to collect on the judgment. But Storch has had money problem for some time now. He fell behind in child support and owes $722,0000 in property taxes on his $10.5 million mansion on Miami Beach’s Palm Island.
In March, SunTrust obtained a judgment of foreclosure for $8.4 million. The property sale is set for June 26.
Storch once commanded an estimated $100,000 per beat, and had earned $70 million in 2004, according to Rolling Stone who dubbed him “hip-hop’s Liberace.”