http://omg.yahoo.com/news/bankrupt-toni-braxton-accused-wiring-estranged-husband-more-162000616.html

Unbreak her . . . bank account?

TMZ reports that Toni Braxton is in big trouble after fraudulently wiring her estranged husband more than $50,000.

Musician Keri Lewis -- who separated from his wife of a decade in 2009 -- supposedly received the money just before Braxton's 2010 bankruptcy filing. The bankruptcy trustees are currently suing Lewis in order to recover the $53,490 sum, which they posit the singer transferred in order to avoid having to use it to pay back her creditors.

Two years ago, Braxton was allegedly somewhere between $10 million and $50 million in debt, prompting her to file bankruptcy.

A rep for the "Unbreak My Heart" crooner, 45, denies any wrongdoing on her part.

"All of the payments made to Lewis prior to Toni's bankruptcy filing were appropriate transfers for reasonable and necessary personal and business expenses in the ordinary course of her business," her rep told TMZ, adding that Braxton is happy to provide whatever information necessary in order to clear her and her spouse's names.

[Edited 10/30/12 7:56am]

this is one lady who never knew how to handle her money

She lacks sense

I saw her Behind The Music, and her bankruptcy troubles are more a lack of business sense then anything else.

Her first bankruptcy was pretty much because of a TLC deal she signed with Arista. She basically went into recoupment limbo.

Then she went to Vegas and somehow signed some deal that obviously gave anyone involved with the show the right to sue her for any reason that would halt to production. She developed Lupas during the show and had to quit and everyone from lighting people to producers sued her a$$!

No wonder she decided to do that reality show to get some income flow going.

She would've been better off remaining a gospel quintet.

CynicKill said:

I saw her Behind The Music, and her bankruptcy troubles are more a lack of business sense then anything else.

Her first bankruptcy was pretty much because of a TLC deal she signed with Arista. She basically went into recoupment limbo.

Then she went to Vegas and somehow signed some deal that obviously gave anyone involved with the show the right to sue her for any reason that would halt to production. She developed Lupas during the show and had to quit and everyone from lighting people to producers sued her a$$!

No wonder she decided to do that reality show to get some income flow going.

She would've been better off remaining a gospel quintet.

Well i agree that she does not do business well. She did what most young artists that

don't pay attention do when they sign on the dotted line and she did spend lavishly.

I won't be so hard on her for the second bankruptcy. She was selling out those shows

in Vegas and she didn't expect health issues to hit her. She also could be a little

more humble. She's not the it singer in the game anymore.

She ain't got no one to blame but herself.

Toni is a big girl now and as we've seen from The Braxtons' reality show, her spending puts in her trouble. Like a lot of other people in the business though, she's obviously never been surrounded by people who give her good advice. No way do most celebs make business deals all on their own, and whomever she has listened to throughout her career has probably made way more money off of her than she made off of herself.

.

One telling thing about Ms. Braxton was when they were talking about the time when she was wearing those gaudy dresses to awards shows and she didn't question how they were being paid for?!?!

I know I would've been, "Um, how much is this, and who's paying for it? Certainly not me! Can't we get a designer looking for recognition to donate a dress for the night?"

She needs to go to Tokyo and tour.

Timmy84 said:

She ain't got no one to blame but herself.

So she is to blame because she found out she had lupus and was forced to cancel shows??

You cant just cancel your tour without owing people money. I dont think AEG had recouped start up cost from her. Then you sign contracts with everyone else for so may shows so they make their money back from what they put into it also. If you dont even make it to that point, then you are screwed..

CynicKill said:

Then she went to Vegas and somehow signed some deal that obviously gave anyone involved with the show the right to sue her for any reason that would halt to production. She developed Lupas during the show and had to quit and everyone from lighting people to producers sued her a$$!

No thats just how touring works. Its just a loan like everything else in thebusiness. Also her insurance company, Loyds of London, I believe didnt want to cover her. Thats why she had to pay

I remember when she was on the Oprah show,discussing her financial problems.Oprah gave her some good advice: make sure that YOU are the person writing the checks.In other words,YOU need to be on top of everything and knowing how your money is being spent.Don't rely on others to do this for you.

I just hope she doesn't sell her body to get some cash...

wait, am I complaining?

Her illness has nothing to do with her financial failures so don't even start with that shit...

Timmy84 said:

Her illness has nothing to do with her financial failures so don't even start with that shit...

You dont start with that sh*t...

She had to cancel her last tour, that is the reason for the second bankruptcy. You dont seem to understand how touring works and how its paid for. Once you understand that, then come back and talk to me

Like I said, got nothing to do with her allegedly trying to screw her ex over. But go for what you know...

SoulAlive said:

I remember when she was on the Oprah show,discussing her financial problems.Oprah gave her some good advice: make sure that YOU are the person writing the checks.In other words,YOU need to be on top of everything and knowing how your money is being spent.Don't rely on others to do this for you.

Yeah....Oprah was giving Her some constructive criticism/Sisterly love, and toni didn't take it so well!!!!

Toni fixed on the fact that Oprah didn't know Gucci had flatware.

"She was so mean to me" she said.

SoulAlive said:

I remember when she was on the Oprah show,discussing her financial problems.Oprah gave her some good advice: make sure that YOU are the person writing the checks.In other words,YOU need to be on top of everything and knowing how your money is being spent.Don't rely on others to do this for you.

Toni seems to be the "Can't tell me nothing" type if she can't take advice. My take on it is she was simply living beyond her means, and not everything has to be luxury branded. She must have really wanted to blow through her money!

With Foreclosure Looming: Toni Braxton’s 6-Bedroomer Up for Sale

November 12, 2012 By Brittney M. Walker (EURWEB)

*Toni Braxton is handling her finances like a big girl now.

Littered with financial issues, the singer is putting her $1.1 million (11,400 square-foot) home up for sale before it gets lost to foreclosure, according to TMZ.

She purchased the Duluth, Ga. crib (below) in 2004 for $1.5 million, but she missed at least 10 months of payments between 2004 and 2010.

That’s when she filed for bankruptcy to save her house. That didn’t work.

Soon-to-be bank owned, the mansion includes 6-bedrooms, 6 bathrooms, an acre of land, Jacuzzi, gourmet kitchen and library.

SoulAlive said:

this is one lady who never knew how to handle her money

Why Soul Alive, whatever are you talking about? Don't you know that (as she informed us in her recent Behind The Music special), it's Oprah Winfrey's fault that her career didn't go back to what it was and she's not rolling in dough! Forget about the fact that she signed record deals worth millions of dollars, but overspent so much that after recoup from the record company she was left with nothing....oh nooooo... it's all Oprah and er um, Babyface's fault.

purple05 said:

Timmy84 said:

She ain't got no one to blame but herself.

So she is to blame because she found out she had lupus and was forced to cancel shows??

You cant just cancel your tour without owing people money. I dont think AEG had recouped start up cost from her. Then you sign contracts with everyone else for so may shows so they make their money back from what they put into it also. If you dont even make it to that point, then you are screwed..

CynicKill said:

Then she went to Vegas and somehow signed some deal that obviously gave anyone involved with the show the right to sue her for any reason that would halt to production. She developed Lupas during the show and had to quit and everyone from lighting people to producers sued her a$$!

No thats just how touring works. Its just a loan like everything else in thebusiness. Also her insurance company, Loyds of London, I believe didnt want to cover her. Thats why she had to pay

And speaking of how loans work in the music industry, she sure did a fine job of running through her record deal money in her earlier years. You would think she gets it by now, but a fool and their money are soon parted.

Whenever you see pics of Toni she's always carrying whatever is the latest luxury bag (many of which I know for a fact range anywhere from $4,000- $11,000 a piece and we are not talking about vintage nor standard pieces from aformentioned luxury collections). She has a horrendous reputation that precedes both her AND this current situation in the music industry- for throwing away money on reckless business expenditures. Sorry, for my own reasons I'll take what's behind door #3: Braxton is foolish with money and it bites her in the ass.

SoulAlive said:

With Foreclosure Looming: Toni Braxton’s 6-Bedroomer Up for Sale

November 12, 2012 By Brittney M. Walker (EURWEB)

*Toni Braxton is handling her finances like a big girl now.

Littered with financial issues, the singer is putting her $1.1 million (11,400 square-foot) home up for sale before it gets lost to foreclosure, according to TMZ.

She purchased the Duluth, Ga. crib (below) in 2004 for $1.5 million, but she missed at least 10 months of payments between 2004 and 2010.

That’s when she filed for bankruptcy to save her house. That didn’t work.

Soon-to-be bank owned, the mansion includes 6-bedrooms, 6 bathrooms, an acre of land, Jacuzzi, gourmet kitchen and library.

Wait...I thought that she got rid of that house already? On last season of the Braxtons she was shopping for a ginormous new home is Los Angeles--she found an absolutely stunning property

that she (according to how she phrased it on the show), she wanted to lease to own. Why lease such an extravagant home is you're missing payment on one you already own? By no means am I saying that a celeb of her stature should not have a home with certain attributes that will work for maintaining her children's safety and well being, but...um....yeah...

$1.1m for a 6 bedroom house!?? Bloody hell, that's like the average price for a 3 bedroom semi in my neighbourhood. Tell me where to sign up and move.

Ottensen said:

purple05 said:

No thats just how touring works. Its just a loan like everything else in thebusiness. Also her insurance company, Loyds of London, I believe didnt want to cover her. Thats why she had to pay

And speaking of how loans work in the music industry, she sure did a fine job of running through her record deal money in her earlier years. You would think she gets it by now, but a fool and their money are soon parted.

Whenever you see pics of Toni she's always carrying whatever is the latest luxury bag (many of which I know for a fact range anywhere from $4,000- $11,000 a piece and we are not talking about vintage nor standard pieces from aformentioned luxury collections). She has a horrendous reputation that precedes both her AND this current situation in the music industry- for throwing away money on reckless business expenditures. Sorry, for my own reasons I'll take what's behind door #3: Braxton is foolish with money and it bites her in the ass.

Exactly my point. She can tour all she wants, if she don't use that money wisely, she'll lose it. There's no real excuse for it. She's only to blame for her financial disaster.

Ellie said:

$1.1m for a 6 bedroom house!?? Bloody hell, that's like the average price for a 3 bedroom semi in my neighbourhood. Tell me where to sign up and move.

Go to Georgia...houses are really cheap out there my sister bought a huge house out there,right outside Atlanta,and she got an amazing deal

Timmy84 said:

Like I said, got nothing to do with her allegedly trying to screw her ex over. But go for what you know...

I wouldn't be surprised. I know i was reading a Jet mag article on her a

couple of years ago and she all but stated the reason she was bankrupt was

because she was married.

phunkdaddy said:

Timmy84 said:

Like I said, got nothing to do with her allegedly trying to screw her ex over. But go for what you know...

I wouldn't be surprised. I know i was reading a Jet mag article on her a

couple of years ago and she all but stated the reason she was bankrupt was

because she was married.

It's like she was basically saying her man got more money than she did yet she was more successful.

Ottensen said:

purple05 said:

No thats just how touring works. Its just a loan like everything else in thebusiness. Also her insurance company, Loyds of London, I believe didnt want to cover her. Thats why she had to pay

And speaking of how loans work in the music industry, she sure did a fine job of running through her record deal money in her earlier years. You would think she gets it by now, but a fool and their money are soon parted.

Whenever you see pics of Toni she's always carrying whatever is the latest luxury bag (many of which I know for a fact range anywhere from $4,000- $11,000 a piece and we are not talking about vintage nor standard pieces from aformentioned luxury collections). She has a horrendous reputation that precedes both her AND this current situation in the music industry- for throwing away money on reckless business expenditures. Sorry, for my own reasons I'll take what's behind door #3: Braxton is foolish with money and it bites her in the ass.

I understand why she went broke the first time out; she signed a bad record deal, even though she was very successful in the 1990's.

But it appears to me that since then she's been spending and handling her money like it's still the 1990's. Wake up! Times have changed. The record industry had to wise up financially during the last decade, and the economy in general went down the toilet back in 2008. It looks like she needs to watch that ESPN documentary Broke and learn some lessons from that.