112 Member Slim Files For Bankruptcy
Via Jasmine Brand reports:
Unfortunate financial news for Slim (real name Marvin Scandrick) of the R&B group, 112. Reportedly, the singer is drowning in debt, owing over $540k to various creditors and he explains his royalty checks have dried up. And despite having a legendary catalog, he only pulled in $3k last year — theJasmineBRAND.com exclusively reports.
Slim (real name Marvin Scandrick) explains in his filing that he only made $30k in 2014, $65k in 2013 and only $25k in 2012 and he only pulled in $3,500 in royalties for last year.
His assets include a Georgia home worth $220k, he has $0 in his Chase bank account, 2k in home electronics, only $200 in clothing and a $50 watch. He also owns a pistol worth $250 and a 2005 Lexus worth $8,500. He lists that his assets total only $231k.
Slim says that he does own the copyrights to his music but he cannot sell off the rights
Is Diddy to blame???