December 19, 2009. MediaTakeOut.com just learned of a DISTURBING story. Popular 1980s comedian Sinbad has come upon hard times. Last week, dude filed for BANKRUPTCY, claiming he owed up to $50 MILLION and had less than $50K in savings. Among the debts he owes is $8 million in back taxes.

But it gets worse, Sinbad's lawyers have petitioned to have HIS ASSETS AUCTIONED OFF orderly. Sinbad currently lives in a $1.5 million home in Los Angeles that the government claims he owns, even though it's in his brothers name.

SAD STORY . . . but to all you HEARTLESS FOLK looking for some last minute Christmas gifts . . . happy shopping!!!

Shout out to the DETROIT NEWS for helping us out n the reporting!!

How exactly does someone get into $50 MIL worth of debt? I don't like to see someone having a rough time with money but DAMN! At least tell me he had to pay for a heart transplant or some shit like that to accumulate that much debt.

well i'm guessing it wasn't because of that red carpet outfit he has on

if i even make that much money, you can guarantee, the first thing i would make would be an investment!

now i want to see his act. i bet he's swearing these days. po pimp Sinbad might actually be funny....

da fuck did he buy?

certainly wasn't Rogaine or a membership to Gold's Gym....

he didn't even make 50 milli during his career

How the hell does a mid-level comedian owe $50 million dollars to ANYBODY?


I don't feel sorry for him.


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[Edited 12/22/09 5:00am]

Fury said:

anybody looking forward to a sex tape or playgirl spread coming up?

Fury said:

Well what in the curmudgeon cake is going on? I thought he was a clean and consistently working comedian. Did he have a secret Ho addiction that nobody knew about? Where and how does someone spend up 50 million? I must say, I would have figured him for having maybe 5 mill but not 50. And I'm being generous with the 5 mill assumption. Poor Sinbad, no pun.

Fury said:

Pity. He's a very nice guy. Very kind hearted.

i recall seeing him on arsenio's show a lot.

DAMN, it had to be medical bills or something. I can't even process 50 mil in debt! Hopefully the #'s are off

Maybe he should have incorporated cursing into his stand up acts and that way he would have made more money and wouldn't have been in this debt.

missfee said:

for each "fuck" and "bitch" he could have earned an extra 10 mill.

Didn't Sinbad introduce LG to Prince when LG performed at Sinbad's Summer Jam in Aruba back in '97?

Karma...perhaps?

When you are talking an income of millions, it's VERY easy to end up oweing the IRS multi-millions. The penalties and interest they charge are staggering.

DesireeNevermind said:

sad but true.

BklynBabe said:

I don't know about this.....this is coming from Mediatakeout after all...