Friday, May 27, 2022

Duane Martin Accused of Using Loan from Will & Jada in Bankruptcy Scam

*As the divorce proceedings continue between Tisha Campbell-Martin and her soon-to-be ex-husband Duane Martin, their financial drama is also making headlines.

As reported by TMZ, Martin pulled off a scam in the couple’s bankruptcy case, even using a loan from Will and Jada Pinkett Smith to do so.

As previously reported … Tisha wants money from Duane, claiming in the June divorce docs that he hid certain finances during their marriage.

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Here’s how the outlet breaks it down:

Bankruptcy officials claim Duane Martin hid money for years from several different sources … even though he and Tisha filed for bankruptcy in January 2016. According to the docs … Duane had hundreds of thousands of dollars coming in from a clothing store and a real estate investment, but didn’t disclose that info in bankruptcy documentation.

Officials say they became privy of Duane’s shady financial moves after Tisha filed for divorce from him in February and discovered her estranged hubby “concealed” and “diverted valuable assets” in their bankruptcy case.

Specifically, the docs say Duane used a $1.4 million loan he got from his friends, Will and Jada, through their company to buy a home and sell it later for a million dollar profit “with the intention of pocketing the sales.”

Officials allege the loan was part of a larger “sham” by Duane. They are asking for his ‘discharge of debts — which was granted in the bankruptcy case — to now be revoked … and for him to turn over the cash he’s been hiding’ – the report states.

Sources close to Tisha say she tried to convince her ex to tell the truth but the actress ultimately had to reveal that Duane “concealed” and “diverted valuable assets” in their bankruptcy case in order to “avoid jail and be there for their two children.”

Ny MaGee
Ny MaGee is an entertainment reporter with over 15 years of experience working in the film industry in areas including production and post-production, marketing, distribution, and acquisitions. She has worked for legendary film producer Roger Corman, Quentin Tarantino's production team at Miramax, the late Larry Flynt, MTV/ VH1, Hallmark Channel, Paramount, Jim Henson Co., Parade Magazine, and various LA-based companies representing above-the-line talent.




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