Bankrupt Celebrities: 16 Stars With Cash Crises

From Teresa Guidice to Donald Trump to Mike Tyson, check out stars whose financial woes spiraled out of control (17 Photos)

Chris Puleo on Aug 18, 2009 at 2:41PM

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Bankrupt Celebrities: 16 Stars With Cash Crises

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Toni Braxton



In 1998, R&B singer Toni Braxton filed for bankruptcy on behalf of herself and three of her companies (which, interestingly enough, were  named Lady Ashlee, Madame Ashlee, and Princess Ashlee). The Grammy winning songstress, famed for her taste for expensive clothes, dug herself into a $5 million financial hole. After filing for bankruptcy, many prize possessions (including awards) were tagged for sale to pay creditors. "A lot of my personal money went into tours," she explained to Ebony. "You never get out of the red. Every lightbulb, costume, band member, hotel, gas for the tour bus, airplane ticket -- everybody has to be paid, and the artist has to pay them."

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