Apparently all of that money Nikko allegedly made from he and Mimi’s sex tape did not go towards paying the debt he and his wife Margo Simms owe a record label. Now thanks to his inability to pay up, he has been hit with a lein of over $1Million.
You may remember last month when we introduced you to Margo, an aspiring singer from Toronto, currently living and working in New York as a bartender.
A record company by the name of Supafly Entertainment sued Nikko and Margo in 2008 after they claimed they fronted cash for Nikko and Margo’s band, Test Drive. The label says the money was for the band to use towards recording their album, songwriters, studio time, promotion, production, etc. When an offer was made by Universal Music to sign the band, Supafly Entertainment said Nikko and Margo began making questionable business moves behind their back in an attempt to cut them out of the deal. Nikko doing questionable business deals? No way!!!
Apparently karma is a female dog because the deal with Universal Music didn’t pan out. Supafly Entertainment then took matters into their own hands, suingd Nikko and Margo for posting the band’s music on Myspace and also having the band perform the music live at concerts. Nikko, being the arrogant gentleman that he is, never responded to the he legal action and a defaulted judgement was entered in July 2008 in the amount of $581,358.42. Supafly Entertainment went back to court in May to ask the judge to allow them to seize assets and property in an attempt to collect their money. Nikko and Margo have yet to pay up and now their bill is a hefty $1,181,358.42. Before you know it, Nikko will have Mimi making 3 or 4 more movies to pay that off.
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