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Master P headed for bankruptcy?

Hip-hop mogul thought to owe film crew $240,000
12/09/2011 03:39 PM

SUED: Master P

MUSIC MOGUL Master P, will reportedly have to file for bankruptcy after admitting that he doesn't have enough money to pay a film crew he hired for his latest venture.

The founder of No Limit Records, real name Percy Miller, says he doesn't have $240,000 to pay the production crew who worked on his 2003 film, Uncle P.

According to gossip site, TMZ, the former rapper who was allegedly worth over $600 million at the height of his career, was previously sued by his employees in 2005, but failed to compensate them after they won their claim.

The case is now being taken to the U.S. Bankruptcy Court, in a bid to force the 44-year-old into bankruptcy.

If the case is ruled in the crews favour, Mr Miller's business assets will be taken over by an "independent trustee" and he will be made to pay what he owes.

Posted on: 12/09/2011 03:39 PM

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hi

jhoni123's picture
jhoni123

It was recently rumoured millionaire Soulja Boy was having money troubles. He is the one that throw money off stage to his fans. mississauga condos for sale

Fri, 2012-05-18 10:26

facebook fan

jhoni123's picture
jhoni123

It was recently rumoured millionaire Soulja Boy was having money troubles. He is the one that throw money off stage to his fans. plz use fathers day quotes

Fri, 2012-05-18 10:26

i am not agree with him and

Walter12's picture
Walter12

i am not agree with him and dont understand what he is saying now.
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Fri, 2012-03-16 06:53

This story is not new

andyel's picture
andyel

This story is not new anymore. We often see successful artists during their times that are now on the verge of bankruptcy. Some artists were mentioned in millionaire mind seminar who are on the same situation as Master P.

Wed, 2011-11-16 10:42

It is amusing how people who

Anonymous's picture
Anonymous

It is amusing how people who have never had a significant amount of Money think they can advise wealthy people how to hang on to money.

Tue, 2011-09-13 22:33

Master P headed for bankruptcy

Anonymous's picture
Anonymous

What was the advice given, I fear I missed them?

Fri, 2011-09-16 22:07

Master P headed for bankruptcy

Anonymous's picture
Anonymous

There's a new saying about rich black celebrities and it's that they can't manage money and they'll make millions and end up broke.

I can't believe Master P hasn't paid the crew of his film Uncle P since 2003 and worst, he was once $600M rich. The things I could do with just one of those millions.

It was recently rumoured millionaire Soulja Boy was having money troubles. He is the one that throw money off stage to his fans.

Young celebrities think the money will continue to poor in and so they spend good money on Gucci this, Louis Vuitton that and end up broke.

Tue, 2011-09-13 08:26