Scott Storch Files for Bankruptcy: Reports
Scott Storch, the fallen hip-hop producer who made hits for Beyonce, Chris Brown, Pink, Christina Aguilera and Justin Timberlake before blowing a fortune on his reckless, opulent lifestyle, has reportedly filed for bankruptcy.
According to TMZ, Storch filed bankruptcy documents in which he claims to own just $3,600 in assets including $100 in cash with the rest tied-up in clothing and a watch.
It’s an incredible tumble from the top for a music man who amassed personal wealth of $70 million and breezed through it on parties, cars, cocaine and all the trappings and extravagances of fortune and fame.
Storch, who wrote and produced nearly a dozen Billboard Hot 100 top 10s between 2001 and 2005, told Billboard last year he was writing and producing songs for rapper Rick Ross, DJ duo Dimitri Vegas & Like Mike and DJ Steven Lee and reshaping his career as an electro-pop singer. Plans were to release a four-song EP of melody-driven EDM, drum’n’bass and trap this year, written, performed and produced almost entirely himself.
In his bankruptcy documents, TMZ reports, Storch made just $10,000 last year and his music companies are valued at zero.
It’s not the first time Storch has hit rock bottom. He filed for Chapter 13 bankruptcy in 2009, lost his home to foreclosure and was arrested for grand theft auto for failing to return a 2004 Bentley GT that he had leased, allegedly for Lil' Kim. In February 2012, he was busted for coke possession in Las Vegas.
In his interview with Billboard last year, Storch candidly revealed the extent of his profligate lifestyle. "I would always be going from L.A. to Miami to New York, to Russia, St-Tropez," he said. "Costs about $50,000 for a domestic flight, $250,000 for overseas. Yeah, that's an expensive habit."