celebrity financial trouble

Sinbad's Home Listed In Bankruptcy Fallout

Filed under: Estates, Celebrity Shopping

he comedian Sinbad, who has been in the news for his financial failings recently, is giving up his luxury home. In December, we picked up on a story our sister blog Walletpop wrote about the comedian Sinbad who had filed for bankruptcy after the IRS filed $8.15 million in tax liens. His Chapter 7 bankruptcy claim listed $10 million and $50 million in liabilities but less than $50,000 in assets even though he had a $1.5 million home in the celebrity-friendly enclave of Hidden Hills. The home was reporedly owned by his brother, Michael Adkins. But court documents seeking seizure of the house alleged that the arrangement was a sham pointing out that Michael Adkins works for his brother's production company and that the expenses for the property including mortgage payments were paid from the production company account.

Now the LA Times Hot Property column reports that the home has hit the market for $3 million. The home was bought in 2007 for $1.5 million. The five-bedroom home sits on 2.4 acres that include a guest house, recording studio, pool and a barn. Listing pictures show a home with plenty of space but the look of a place that has not been happily inhabited for a while. The property website from Teles Properties is here.

Gallery: Sinbad In Hidden Hills