Music producer Scott Storch files for bankruptcy for the second time.
We all know the story about Scott Storch picking up a cocaine habit in 2006 and filing for bankruptcy 3 years later. Being one of the most renowned music producers in 2002-2006 with a fortune of more than $70 million, he “took a month off” 9 years ago which turned out to be his biggest mistake ever. Partying the rest of the year away in his $10 million Miami mansion and spending over $30 million on drugs, almost 20 cars, private jet, 117-foot yacht and other incredibly expensive goods in less than six months, Storch lost his music inspiration and ended up in rehab in April 2009 without a dime in his pocket.
Earlier this week, the producer filed for bankruptcy again, claiming he has only $3,600 of assets to his name – $100 in cash, $500 in clothing and a watch worth $3,000. The most shocking part is his music companies are valued at $0, according to TMZ. Also, Storch points out he made only $10,000 last year.
Let that be a lesson for his industry peers. Cocaine is a hell of a drug, indeed.
