Will Hollywood end up homeless? Another celebrity foreclosure
Jul 24th 2008 4:32PM
Updated Jul 29th 2008 9:53AM
You'd think a guy pictured often with the likes of Paris Hilton would keep a hand on his wallet. But Scott Storch, a 34-year-old hip-hop music producer who helped launch the career of Christina Aguilera and Beyonce, and is seen around town with socialites like HIlton, is the latest entertainment name to fall into foreclosure.
Storch, who Palm Beach Post columnist Jose Lambiet estimates was worth $70 million as late as last year, is losing his $10 million Miami Beach home to SunTrust Bank. Besides owing a year's back mortgage on the 10-bedroom, 16-bath mansion, Storch also owes the electric company and a security company. Storch also had his Ferrari Scaglietti and his prized motorcycle, a Bones Bike, repossessed. So much for the high life.