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Sinbad: Bankrupt And $8 Million In Debt

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Sinbad, the popular ’90s comedian and sitcom star, is reportedly into the IRS for some major money, and filed for bankruptcy in April

The 53-year old actor allegedly owes more than $8 million to the IRS and several hundred thousand to various creditors, but can only claim about $131,000 in assets. He was forced to put his Hidden Hills estate up for sale a while back in an effort to pay down his debts, and this is the second time he’s filed for bankruptcy. According to court documents, he brings in about $16,000 a month and simply can’t keep up with his bills.

Sinbad isn’t the only celebrity plagued by money problems; last year, “CSI” star Gary Dourdan filed for bankruptcy to get out of credit card debt. Wesley Snipes has also gone to court.

Maybe Sinbad can reprise his guest-starring role on “It’s Always Sunny In Philadelphia” and make some quick cash.

Sinbad: Bankrupt And $8 Million In Debt
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  • michaeld

    How can these people continue not paying taxes? Everytime I turn around an entertainer is filing for bankruptcy and owes taxes. How do they do it? I have to have taxes taken from my paycheck every time I get paid. Why not them? There should be a new law that they have to pay their taxes as they go. I’m sick and tired of these uneducated has beens not doing what everyone else has to do.

    • Fred

      That what happens when you do not pay taxes and spend more money than you make.

    • wyoungs@aol.com

      90% of them are Democrats — and they don’t pay taxes, they want to give it all away in all these fre programs– but they don’t want to have to help pay for it.

      • Mr Moore

        Man, you are a real dumbass. HUh?

    • michaeld

      Taxes are not witheld for 1099 employees, you have to pay your own taxes quarterly or at the end of the year. if you can’t managage money then your hosed.

  • Kenneth Speech

    The comment above seems a little prejudice, being a tax preparer I can understand what the entertainers, and professional athletes go through as for as paying their taxes goes. it is not a easy thing to do when it comes to paying one’s taxes. The first thing these people should do is hire a trustworthy accountant, or someone to help them manage their money.

  • Brian

    First, how do you earn $16k/month and not be able to pay your bills?

    Second, I’ve heard his act; him going bankrupt comes as no surprise.

  • mike

    Ive always liked Sinbad and his humor. I hope he gets right side up again. Everyone makes mistakes.

    • notafanof18

      not paying taxes is not a mistake. It is irresponsible. nothing else..

  • da man

    He must have spent $8 million on those super straight, white teeth of his……it certainly wasn’t for a razor to shave with….

  • http://yahoo Betty

    any one else would get jail time what is wrong with this picture???????

  • Steve

    Here is a good reason why he is bankrupt….He was on a plane flying from Charlotte to Birmingham a few years ago. His entourage and he all flew 1st Class. Let the IRS get him….instead of people associated with the Tea Party

  • Daryl

    Sometimes things happen for various reasons which may have been out of his control. It’s not an excuse, but things do happen for a reason and remember . . . we don’t know what happens/happened behind closed doors; do we???

    • Steve

      Don’t know about you but I pay my taxes. There is no excuse for not paying your fair share.

      • Mark Barnes

        Steve, that only applies when it’s actually a “fair share”. God himself only asked for 10%.

        • Steve

          Point taken……

  • Mark Barnes

    Poor Sinbad…bet he voted for Obama. Hey, Sinbad, I hear Obama has a lot of pull with the IRS, maybe he can hook you up. Then you can be a full time, bought and paid for Obama sock puppet like the rest of Hollywood.

    • Steve

      Obama will give him a free cell phone….just sayin’

  • Gomer Pyle

    Praying for you Sinbad cuz that’s a steep hill to climb. As for the IRS n the Tea Party, get them asses and everyone associated with those racist dogs!

    • Steve

      Not every Conservative is a racist and I find that offensive. Likewise, if you pay your taxes no problem with those so called “asses”!

    • Steve

      It is offensive to suggest every CONSERVATIVE IS A RACIST….that would be like saying every Liberal is on the system. Again, pay your taxes and no worries with the IRS about taking your assets!

  • Amy

    Bad things happen to good people and good things happen to bad people. Hope he gets in touch with Dave Ramsey’s team. They are excellent about helping people in financial trouble. I’ve been in bankruptcy and it is a heartwrenching experience. Dave Ramsey’s books and class helped put me on the road to financial freedom. I only make 35K per year, own my home and am debt free at 56 years of age. Best of luck Sinbad!

  • Rueben

    Hmm. I like how this page only points out black actors that have filed bankruptcy.

    • Ron G.

      I was thinking the same thing Rueben…..

  • Alonzo

    Sound like a bunch of political idiot…..

  • BDS

    He should do what he did in “Houseguest”…buy a scratch off lottery ticket!!

  • http://yahooo samuel

    another red fox

  • http://yahoo saundra white

    as long as he is young and has talent he can always make money plus he god on his side

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