Dionne Warwick Files for Bankruptcy
The veteran singer has filed for bankruptcy because of unpaid taxes that total about $10.7 million. According to reports, her debt started growing in the 1990s, and was originally only $2.2 million.
“Ms. Warwick had a business manager who mismanaged her affairs,’ her lawyer Daniel Stolz told Rolling Stone. “Before she knew it, she owed a gazillion dollars in taxes. She’s actually paid more than the face amount of the taxes, but with all of the crazy interest and penalties that they add, the number kept mushrooming – even though she paid off the amount that she owed in terms of the actual taxes.”
Stolz also added that Warwick has fired that manager and made sure to file her taxes every year despite the underlying issues regarding her finances. With the amount she currently owes, this is bound to be a long, drawn out case.
Watch Dionne Warwick’s ‘I Say a Little Prayer’ Video