Tuesday, October 30, 2012

Toni Braxton Is In Lots Of Trouble

I think I said a few years ago how I understood how Toni Braxton had to file for bankruptcy but I'm not sure why she could not make a lot of money very quickly. If you were or are a recording artist who had any measure of success you can always make many thousands of dollars every night that you are willing to be on tour whether or not you ever sell another record again. You have no debts to pay back to any record companies and can just play for cash. A lot of cash and sell a lot of merchandise. So, it baffles me when there are reports that Toni Braxton tried to hide $53,000 from the creditors in her bankruptcy case by giving it to her estranged husband. Why? It is such a tiny amount. Yes, to you and to me it is large, but to Toni it is a night or two of playing shows. I just don't see the point in facing jail time with the federal government for $53,000 when you can go play a show in Vegas and get that much money. Toni says it is all a big misunderstanding and that she did nothing wrong. We shall see.

35 comments:

Henriette said...

How many times has she filed for bankruptcy? I've lost count.

Agent**It said...

It is part of a set of transactions that they are likely investigating. It is fraud and this can cause her a lot of trouble. Glad she got caught. Wire fraud is very easy to do but it has gotten much easier to trace. What a stupid, stupid woman. Just, stupid.

rejectedcarebear said...

I got caught up in the Braxton family reality show when I was sick one week, its a bunch of interesting folks there. But this is dumb. Think about your kids Toni!

Amber said...

GOD FORBID SHE HAVE TO EARN HER KEEP.

Tuxedo Cat said...

She needs a good accountant who will be honest with her, and she needs to start saying 'NO' to family members...I get the feeling she's been loaning money to her family for years, if not decades....

rejectedcarebear said...

Ahhaha this made me LOL, my boss gave me the weirdest look.

figgy said...

I'd sooner mess with the Mafia than the IRS. Yikes

Roman Holiday said...
This comment has been removed by the author.
kgirl said...

I saw her Behind The Music last night (don't judge...I'm ashamed enough of myself). After watching it and seeing why she filed bankruptcy twice, I felt for her. Especially her reason for filing the second time.

CarmeliteLady said...

Wow, I was reading all of your comments on Hurricane Sandy late last night. It felt like the whole CDAN family really came together. It was so soothing and sweet to hear everyone supporting each other, sending positive thoughts and prayers. I hope that everyone stayed safe, evacuated, got where they need to be and can go back to their normal lives soon. My thoughts and prayers are with you all on the east coast.
As far as Toni Braxton is concerned, as Enty said this is stupid if she can just go do a couple concerts and make it all back. Unless of course there was a reason to give it to her ex, such as she owed it to him. But what could be even worse is if she has some kind of addiction or problem that would prevent her from doing a couple of gigs and making a ton of cash quickly. She looks very odd in the eyes, too much plastic surgery also, but her expression seems like someone lost and in someplace dark. Just my opinion.

S.joy said...

@Carmelite it could be that she's very sick with lupus and heart problems. She has said that she loves to performs but sometimes her health holds her back from doing alot of the things she wants to do.

Did anyone else watch her Behind the Music last night? She blamed the downfall of her career on Oprah... lol. I wonder how O will respond.

bobbi_1025 said...

Creditors don't play when it comes to bankruptcy filing. We had to file a little over 2 years ago and when we went to court for it another guy was there and got grilled by the mediator for selling a motorcycle. He was told that he would be contacting the lawyer and that it was going to get followed up on. Mediator dude was pissed.

Cheryl said...

I didn't watch the Behind the Music but I'm surprised she blamed her troubles on Oprah. I thought Oprah volunteered to be her financial mentor to show her how to manage her money.

T. E. Cuz said...

Taxation is theft.

annabella said...

apparently she was mad at oprah because oprah pointed out that she had gucci flatware and she was filing for bankruptcy in a 1998 interview. I just read that. so, one gets the sense that she has champagne tastes and doesn't want to acknowledge her beer budget.

Basil said...

Sounds to me like she has no head for money. Expensive tastes, and gifts and loans to friends without a second thought will empty you bank account pretty fast. I could also see her not knowing hiding money is a crime if someone (the ex-husband maybe) told her it wasn't a crime. Hell, I didn't even know it could land you in jail.

S.joy said...

Exactly! And she said that once Oprah said that, people started to view her differently and things fell apart.

CarmeliteLady said...

Aaaah that's right, the lupus and heart problems, thanks S. Joy I had completely forgotten. She's just got such a strange expression now. Though it could certainly be because of her health struggles. that would certainly rule out just running down to the arena and doing a few shows.

Agent**It said...

You are saying to the court that you should have your debt discharged because a series of financial tragedies occurred and you cannot repay your debt. The court then look - in detail-- at your financial transactions. Credit card representatives are there and they stand right up say "well you spent 250k in jewlery on your card, we want it back" and these idiots and thieves stand there and say "oh, it was a gift to 'xyz' person and I no longer own it". Then you see a pix of them wearing said jewels a few months later. They hide the assets. They are thieves and I don't care what her problems are. Lots of GOOD DECENT people end up in BK court and it is heartbraking to hear their stories. The courts are getting really pissed at people like Braxton.Thieves, I say !!!

g.strathmore said...

I saw her in Vegas when she had a long running show there and I thought it was good. It was kind of lounge-y, but good. She should do something like that again where she doesn't have to travel to a new city each night and she doesn't have to do a big choreographed dance number, just sing. I'm sure she could do it.

I'm also annoyed by people who live above their means - my sister and brother in law are almost like that. They have a big expensive house and crap inside and new gadgets all the time and clothes, etc. But then my sister will argue over a $40 check at a restaurant. I think it's so tacky. I'm way more generous than she is but I make and spend a lot less than she does. I usually end up picking up the tab when we go out even though I have about 1/10 the net worth of her and her husband.

Thomas said...

Ha ha ha Enty's "We shall see" at the end made me laugh...

kgirl said...

It was during her Vegas show that she had to file a second time. They ended up diagnosing her Lupus and heart issues then. The docs put her on bed rest and the insurance company wouldn't cover the claim for all the shows that had to be cancelled. So it was up to her to cover those costs and take the financial loss. I just think people get in over their heads sometimes. All those limos and hotels etc have to be paid back by the artist on the back end. Sometimes they think oh I've sold millions and wind up with virtually nothing. She's not the first and unfortunately not the last.

Pookie said...

i'm sorry but TB is not bringing in 53k in 2 nights worth of shows.

that entire family disillusions and sickens me...i caught about 5 minutes of their reality show once, and they're incredibly plastic and superficial...and as much as editing manipulates a 'reality' story line, it totally stands to reason that they'd mismanage money. i fail to feel sorry for TB, b/c in a career as long an hers, she'd have learned a lesson or two by now about money mgmt.

T. E. Cuz said...

g.strathmore, i agree with you. i will never have a credit card, and i dont think it's wise when i see my friends charging stuff all the time like it's no big deal.

seems like financial management/education needs to be a little more widespread.

Agent**It said...
This comment has been removed by the author.
Agent**It said...

TE Cuz (I called you Cruz in my first attempt..) Curious, how can you travel - rent a car, hotel room, palne, without a credit card ?

T. E. Cuz said...

i dont really travel, but if i did, i would use a debit card (linked to my checking account) for those things.

T. E. Cuz said...

let me clarify: i would use my debit card if it was not possible to use cash. i will always prefer to use cash.

CanadianMiss said...

You can also get pre-paid credit cards for online transactions/travel

T. E. Cuz said...

yes, true. i find that the fees and small print are a little too much for me, but if i did online shopping, i would probably use one of those.

califblondy said...

Personally, I think she's had lots of plastic surgery and after watching probably every episode of Braxton Family Values, TB obviously lives beyond her means AND probably supports some of the sisters too. I know she has serious health issues, but on the show she seems to use her health to her advantage doing what she wants to do when she wants to do it. I've been a fan over the years, but she needs to be accountable.

Mango said...

Sad that she can't do the Vegas shows. I read somewhere once, years ago, that when Cher's coffers would run low she would pack all her wigs and Bob Mackie gowns in some trunks and head off to Vegas to do some shows and voila! Mega rich again!

Henriette said...

She can diss the Big O, but the Big O was right. I hate it when people file for bankruptcy, but go out and live like royalty. The Big O may be many things, but she has been good with money.

g.strathmore said...

@T.E. Cruz, I have only one credit card and I pay the entire balance each month, so I essentially use it as a debit card. The only reason I use it is so I can up my credit score. (Having a long running credit card in good standing can supposedly give you a bit of a boost.)

Agent**It said...

Please remember, if you use a debit card for travel, you have little room for disputimg charges. Get a fee free card, there are lots of them . If you travel out of USA you need a chip and pin card . Or, lots of cash ! G. strathmore, great advice, a debit card means nothing in terms of building fico score, I do the same thing and PIF each month on my CC .