Baller Alert Entertainment & Lifestyle
It seems like trying to help a friend is going a little sour for Will Smith.
The actor has officially been pulled into Duane Martin’s messy financial fraud lawsuit. According to the @Blast, a trustee overlooking the suit sent Smith a subpoena, forcing him to give up all information and communication pertaining to Martin.
Apparently, the Chatsworth, California mansion Martin purchased, which is in the center of the case, was bought through a $1.4 million loan from Will and wife, Jada Pinkett-Smith. The couple has not done anything to get them in trouble, but it is a new problem that could have been avoided.
All of this has come to light thanks to the trustee, who is suing Martin. The representative was under the impression that Martin was hiding money during his and estranged wife, Tisha Campbell’s, bankruptcy investigation. It was believed that the actor’s Roxe LLC was just a cover-up company for his $2.6 million assets.
The Blast explained, “Duane originally bought the home in 2006 for $900,000. He then borrowed $1.9 million” to construct the ‘Martin family home.’
Martin then defaulted on his loan and negotiated a short sale with the bank, and he used Roxe to repurchase the home from the bank with the $1.4 million investment from Smith and Jada. Roxe LLC became the owner and Martin, and Tisha allegedly entered into a lease with their own company to pay rent of $5,000 per month.”
