We told you earlier this year about onetime star producer Scott Storch’s financial problems. The bank foreclosed his Miami mansion and his Ferrari was repossessed. And now an ad for the former has been posted on Craigslist.
Meanwhile, Storch’s lawyer says that his team didn’t sign off on the Craigslist posting, and it’s not official. Well, at least he didn’t put the house up there himself.
Miami Herald: Recent posting on Craigslist: ”$9,000,000 Celebrity Estate Home — Bank Sale (Palm Island — Miami Beach).” It’s the waterfront residence of Scott Storch, a 34-year-old record producer who is having money troubles.
”A forced bank sale,” says the posting. ”Bank is looking for an offer at $9 million — home was recently appraised for $16M . . .” There are six photos, with Lisa Gottesman of Keller Williams Realty in Fort Myers named as “seller contact.”
But Storch’s Miami lawyer Guy Spiegelman says neither Storch nor his business manager knows Gottesman or signed off on the listing. ”It’s not a bank sale,” Spiegelman says. “Storch is the owner of the property. The information on Craigslist is wrong and unauthorised.”…
Storch, who has produced songs for Beyoncé, Eminem and 50 Cent (including his current hit, Get Up), bought the place in May ’06 for $10.5 million. He was riding high back then, said to be worth $70 million. But he is now $511,839.16 in arrears in real estate taxes for ’06 and ’07, and owes $187,097.94 for ’08. SunTrust Bank filed a foreclosure complaint in June. The matter is before Miami-Dade Circuit Judge Michael Genden.
Storch also has child support issues. He owed $27,031 for son Jalen, 2. Jason Setchen, attorney for Jalen’s mother DaleneDaniel, obtained a court-mandated income deduction order and garnished that money from Storch’s royalties at Sony BMG. Storch owes $7,500 for October, with another $7,500 due Nov. 15.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.