Rihanna's court case over money issues


rihanna  at the 2008 american...

Rihanna has claimed she was 'effectively bankrupt' in 2009. She has filed a case for mismanagement against her former accountants, claiming that their poor advice saw her fortune fall from $11 million at the beginning of the year to $2 million by the end of it. It's not exactly bankrupt - but it's a lot to spend in a year.

She's not the first singer to have had issues with money.

The claims

Rihanna's story appeared on celebrity website TMZ. It said that the legal documents filed in the case refer to a number of financial moves she made during the year which turned out to be less than wise.

The first was the purchase of a house for between $7 million and $7.5 million, which she says her accountant agreed. She eventually sold the house for a $2 million loss. The second issue was that her 2009 tour was losing money but she says her accountant never told her. And the third was that during the year her expenses effectively doubled - leaving her heading for financial ruin.

The website says her accountants have hit back, claiming that the financial issues were due to Rihanna rather than them.

In any case, the Mirror has reported that Rihanna's finances have since recovered somewhat: she is said to be worth an estimated $43 million.

We will have to see what the judge rules. However, she is far from the first singer to have hit financial issues.

Money money money...

Former Atomic Kitten Kerry Katona has become perhaps the best-known British bankrupt. She first declared herself bankrupt in 2008. Her appearance on Celebrity Big Brother is credited with helping her finally pay her debts in 2011. However, by 2013 she was forced to declare bankruptcy again.

Martine McCutcheon was another recent victim. She's best known for her acting but had a stint in the charts between 1999 and 2002 too. She apparently had insurmountable debts of £187,000 after suffering from ME, which made her too ill to work.

Two members of the band Blue have also recently hit financial difficulties. Both Duncan James and Simon Webbe have declared themselves bankrupt.

Shane Filan, Westlife star and all round National Irish Treasure, was declared bankrupt at the age of 32 on the eve of the band's farewell tour. He had £18 million of debt, after the collapse of an Irish property company he owned.

But perhaps the most famous bankrupt singer was MC Hammer, whose spending was legendary. He filed for bankruptcy in 1996 with $13 million of debts. His $12 million mansion, staff of 200 and an entourage of over 40 people were thought to be factors in his overspending.

The famous faces of bankruptcy

The famous faces of bankruptcy