“Fugees” singer and former Haitian presidential candidate Wyclef Jean is reportedly flat broke. The Smoking Gun reports the law firm Shukat Arrow Hafer Weber & Herbsman filed a judgment against Jean after he failed to make agreed-upon payments to reduce his debt. His business manager claims the entertainer is flat broke and “there ain’t no money.”
Jean agreed to pay the law firm $100,000 to settle an outstanding bill of $133,000.
Other records show that federal and state authorities have, since mid-2012, hit the performer with nearly $2.9 million in tax liens (which remain outstanding).
According to New York State Supreme Court filings, Jean last year agreed to pay the law firm Shukat Arrow Hafer Weber & Herbsman $100,000 to settle an outstanding bill topping $133,000.
As part of a confidential settlement agreement, Jean was required to pay the firm $10,000 by August 1, 2013, and $50,000 by year’s end. The agreement stipulated that if Jean made those two payments, the firm would waive the remaining $40,000 it was owed by the musician. However, the agreement notes, if Jean failed to make the payments, he would be on the hook for the entire $100,000, plus 10 percent annual interest.
Jean, records show, made neither payment.
In response to Jean’s default, Shukat–a well-known entertainment industry law firm–this week filed a $102,027.40 judgment against the 44-year-old entertainer. Source: The Smoking Gun
All I can say is that Haiti may have dodged a bullet when they opted for the current president instead of Wyclef Jean. The fact is, his charity, Yele Haiti, was poorly ran and is an indication of how he handled his financial affairs. Too many black entertainers live far beyond their means and end up broke. They surround themselves with large entourages, buy flashy cars and spend, spend, spend as though the spigot will always run freely with a sh*tload of money, only to find out it was all temporary.