Suge Admits To Death Row Woes

[bknot1]

SUGE ADMITS TO DEATH ROW WOES: Rap mogul has $11 to his name; tells bankruptcy hearing that his incarceration hurt business.

Marion “Suge” Knight told a bankruptcy trustee Friday that his Death Row Records suffered financially following his numerous jail stints and a $107 million judgment against him by a couple claiming they helped launch the label.

Suge’s appearance at the bankruptcy hearing was intended to give his creditors a chance to ask about his assets and his debts of more than $100 million.

Bankruptcy documents filed on April 20 showed that the mogul – once wealthy from the multi-million dollar revenue generated by Death Row artists Snoop Dogg, Tupac Shakur and others – had no income this year from employment or operation of a business. Records show that his bank account contained just $11, and he owned clothing worth $1,000, furniture and appliances valued at $2,000, and jewelry worth $25,000, according to the records.

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[jibran]

Whatever I may have felt before, I feel sorry for the nigga now.

DAMN! More money owed on jewelry than appliances/furniture - now that's just stupid.

[bknot1]

thats the business of running your own label sometimes...

[Raticus]

Although they didnt take the same road... Sounds like another MC Hammer outcome...

I dont really feel sorry for him.. I still believe he had involvement in Pac and BIGGIE death..

I do feel sorry for Hammer tho...

Raticus

[Mindset]

knowing how Suge is, I DOUBT he's broke, he has money stashed away somewhere with somebody, maybe not a hundred million, but with at least a million i'm sure.

[Fieva]

Originally Posted by Raticus

Although they didnt take the same road... Sounds like another MC Hammer outcome...

Raticus

If we see Suge in The Surreal Life or on WWE I'm gonna laugh for weeks!

[Change of POETS]

Let's remember, he owed Pac close to 15 mil when Pac was killed. Pac was trying to get off the label, cuz he wasn't getting paid. That's why he dropped all the albums in them couple of years.

I'm pretty sure he stole from Snoop and Dre, too. He's just claiming Bankruptcy because he doesn't want to come up on that judgement he owes. If they grant him bankruptcy, he won't have to pay those debts.

I'm sure he has cash in offshore accounts, and assets in other peoples names.

[jugalo180]

like said above, Suge has money in a stash box somewhere. That cat is too smart to just wake up broke. Those figures are ridiculous and embarrassing and I know he has too much pride to let himself fall like that. I think he has his I's dotted and T's crossed on this one and he's giving those he owe money to a big f***k you very much.

[MadTiger3000]

Originally Posted by jibran

Whatever I may have felt before, I feel sorry for the nigga now.

DAMN! More money owed on jewelry than appliances/furniture - now that's just stupid.

He got more than what he asked for. Now it's time to pay some more.

[MadTiger3000]

Originally Posted by jugalo180

like said above, Suge has money in a stash box somewhere. That cat is too smart to just wake up broke. Those figures are ridiculous and embarrassing and I know he has too much pride to let himself fall like that. I think he has his I's dotted and T's crossed on this one and he's giving those he owe money to a big f***k you very much.

Trips overseas = OJ

[bknot1]

its just like any other Hip=Hop CEO..Jermaine Durpi, Luther Campbell, and many others...they file to protect thier real money..but do it ti be able to keep the label open and try to get it back in the green..

Everone knows Suge has money somewhere..so Im sure he will be ok..


he just need to sign some artists and producers to get him back on the top..