Will Smith and Jada Pinkett Smith Named In Duane Martin’s Bankruptcy Docs Over $1.4 Million Loan

Back in February, Tisha Campbell-Martin filed for divorce from Duane Martin after two decades of marriage. Since then, the two have been at legal war over their marital finances, their division of assets, as well as spousal support. 

But now, according to The Blast, two of the former couple’s famous friends have been dragged into their legal woes, as part of the Martins’ bankruptcy. ⠀⠀⠀⠀⠀⠀⠀⠀⠀

In docs obtained by the publication, the trustee in the former couple’s filing has accused the actor of hiding more than $2 million in assets under a company, Roxe LLC. 

Duane supposedly set the company up to hide his ownership over a $900,000 California mansion, which he purchased back in 2006. According to the trustee, Duane then borrowed nearly $2 million for construction but defaulted to negotiate a short sale. 

After that, the trustee alleges Duane used his company to buy the home back with the help of a $1.4 million loan from his famous friends, Will Smith and Jada Pinkett-Smith. 

As a result, Roxe LLC became the owner of the mansion, as the former couple entered into a lease with the company – agreeing to cough up $5k a month for rent. 

Since then, Duane has listed the home for $2,695,000, which would secure a $1.3 million profit in regards to its original amount. But, the trustee says the former couple is trying to finesse the system. 

Not only did the trustee claim the lease was a scam, as the two didn’t make all the payments on the house because of the loan from their friends, but he also wants the home to be turned over to the bankruptcy estate to benefit his creditors, the publication reports.

About MsJennyb

Jen is a Writer and Content Curator for Baller Alert, who writes under the alias “MsJennyb.” In this role, Jen develops and contributes relevant special-themed content to attract readers. Before joining the Entertainment Industry via Baller Alert, Jen spent one year as a Freelance Writer and two years as a Human Resources assistant in a corporate office. Jen has a degree in Criminal Justice from Rutgers University with a concentration in Africana Studies.

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