Will & Jada Smith Named In Duane Martin’s Bankruptcy Lawsuit
Now, Will Smith and his wife Jada Smith have been dragged into their best friends, Martin Duane and Tisha Campbell’s divorce and bankruptcy case. After 20 years of what seemed to be a blissful marriage, the two are parting ways and their financial records are out in public.
Martin who is a star of the “Above the Rim” film is said to be hiding assets worth $2.6 million in a company called Roxe LLC.
In 2006, Duane bought a mansion worth $900,000 in California. He then got a loan of $1.9 million from his bank to renovate the house. He failed to repay his loan and this where Jada and Smith are connected; they gave him money to repurchase his home. The trustee claims that he used the Roxe LCC Company, which is owned by Duane’s brother to buy the home at $1.4 million. The short sale indicated that the couple sold the house to the company and therefore, it belongs to Roxe LCC.
However, it has now been revealed that Martin and Tisha agreed to rent the house from the company at $500 a month. They drew a lease agreement, and the trustee refers to it as a scam that the couple is using to hide assets.
The famous Rim actor listed the mansion for $2,695,000 to get money and repay the Smiths and keep a profit of $1.3 if the house is bought at the asking price.
Duane has been ordered by the bankruptcy officers to hand over all his assets to pay off his debts.