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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.
For more on the story log onto http://www.djdeluxeinc.com
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.
For more on the story log onto http://www.djdeluxeinc.com
