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THE SHIELD: Michael Jace as Officer Julien Lowe. CR: Prashant Gupta / FX

“The Shield” Actor Thinks About His Children After Being Charged With Murder

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Reported by Krystle Crossman Michael Jace, who is a well-known actor on “The Shield,” was charged with the murder on Thursday, May 22nd. He has asked that his arraignment be postponed until June 18th. As previously reported, on May 19th, Jace called 911 and told them that he’d shot his wife and needed their assistance. She was pronounced dead at the scene. Their two children, both under the ages of 10, were…

Financial Juneteenth | Mekhi Phifer’s bankruptcy filing shows a massive $1.2 million dollar debt to the IRS

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No one expected Mekhi Phifer to end up in bankruptcy court.  But there are quite a few black celebs who end up on the short end of the financial stick.  What are the causes?  Is it due to gross financial mismanagement or are the problems more nuanced than that?  This article on Financial Juneteenth says that Mekhi was in deep trouble with the IRS, which was probably the reason he…

Financial Juneteenth | Mike Tyson says he has no regrets about throwing away his millions

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Mike Tyson has a new lease on life and a new respect for the IRS now that he’s paid off a substantial chunk of his tax debt. What he doesn’t have, however, are regrets for the lavish spending that landed him in a financial hole in the first place. Tyson has had his share of tax troubles after filing bankruptcy in 2005, but says the IRS has been good to him….

Kandi Burress Was Happy She Received the Same “Sucky Deal” as TLC

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By Daphne R Sometimes a story can have a different meaning when a different perspective is applied. One person can display a situation in a negative manner while another can take the same situation and get some good out of it, Have you ever experienced that? Kandi Burress, formerly of the girl group Xscape, claims their group received the same “sucky” record deal that the group TLC received as portrayed…

Three Questions We Have for “Pastor” Pebbles and Her Constant Quest for Revenge

Three Questions We Have for “Pastor” Pebbles and Her Constant Quest for Revenge

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Britt L reported this week about the appearance of Pebbles on the Wendy Williams Show in order to clear her “good name.”   Britt’s description of the appearance is below, but before you read what the esteemed journalist has to say about the matter, here are a few questions we have for Ms. Peri “Pebbles” Reid: 1) Aren’t you supposed to be a pastor?  Doesn’t the bible say something about…

DMX Bankruptcy Filing Rejected; Includes $1.3 Million in Child Support for 10 Kids

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DMX filed for bankruptcy, perhaps thinking that his financial woes might be over, but not so fast.  A judge in New York has rejected the rapper’s claim, which means that creditors can go after him financially. The 42-year old rapper has millions in debt after starting his rap career as one of the hottest selling artists of all time. But overspending, a drug problem and a series of very bad…

After Selling 17 Million Records, TLC Earned Just $35,000 Per Year: 10 Other Facts about TLC

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  1)      The first album released by TLC, “Oooooh The TLC Tip” sold six million copies world-wide 2)      Their second album, “Crazy, Sexy, Cool,” sold 11 million copies world-wide and was certified diamond.  This was the first time a female group had ever achieved this feat. 3)      In 1999, when the group did a tour for the album, “Fan Mail,” it became the highest-grossing tour of all-time. 4)      TLC was…

Suge Knight Arrested

Suge Knight Arrested

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Suge Knight’s life used to be fabulous, but that was 20 years ago.  Since then, it’s been one negative piece of news after another, and the man that he used to be doesn’t exist anymore.  Will he ever return to greatness? Probably not.  He’s kind of become the Mike Tyson of hip-hop, and was never able to use his vast musical genius to do anything other than mess his life…

Wonder Bread And Twinkies Maker Shutting Down; 18K Employees FIRED

Wonder Bread And Twinkies Maker Shutting Down; 18K Employees FIRED

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Hostess Brands Inc., the maker of Wonder bread and Twinkies, said it will shut down and liquidate after a strike by members of its bakery workers’ union “crippled” the company’s operations. “We deeply regret the necessity of today’s decision, but we do not have the financial resources to weather an extended nationwide strike,” Chief Executive Officer Gregory F. Rayburn said in a statement. “Hostess Brands will move promptly to lay…

Toni Braxton’s Trying To Sell 6-Bedroom Home To Avoid Forclosure

Toni Braxton’s Trying To Sell 6-Bedroom Home To Avoid Forclosure

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Toni  Braxton is putting her $1.1 million (11,400 square-foot) home up for sale before it gets lost to foreclosure, according to TMZ. She purchased the Duluth, Ga. crib (below) in 2004 for $1.5 million, but she missed at least 10 months of payments between 2004 and 2010.  She filed bankruptcy in efforts to try to save the property, however that did not work. Soon-to-be bank owned, the mansion includes 6-bedrooms,…

Antoine Walker lost $110 million and was forced to file bankruptcy two years after retiring from the NBA

Antoine Walker Attributes Gambling, Bad Real Estate, And More To His $110 Million Loss

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ESPN’s documentary titled “Broke,” highlights the financial failure of professional athletes who once acquired millions of dollars in their athletic career. In a recent filming of the documentary, former NBA superstar Antoine Walker discussed how he spent $110 million over a course of 14 years. Walker attributed bad real estate deals, gambling debts, and frivolous spending to his demise. “Personally, I was involved in a lot of real estate projects…

Michael Vick Just One Paycheck Away from Financial Freedom

Michael Vick Just One Paycheck Away from Financial Freedom

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    Michael Vick is conquering his economic demons with a VENGEANCE — tackling creditors in his bankruptcy case left and right … and TMZ has learned, he’s just a paycheck away from total financial freedom. You’ll recall … Vick filed for Chapter 11 bankruptcy in July 2008 after the infamous dog-fighting scandal — when he lost his NFL salary and several lucrative endorsement deals. According to court docs, Vick owed approximately $20 MILLION to dozens of creditors….

The Money Mentor: Are You Being Haunted by Old Debt?

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By:  Lorillia Brown-Phillips, The Money Mentor, Your Black World Have you ever been issued a credit card that was charged off due to non payment?  Did you know that a charged off credit card balance is considered taxable ordinary income, according to the IRS.  Charged off credit card debt that is either canceled or forgiven may cause taxpayers to receive a 1099-C.  A 1099-C is a tax form issued to taxpayers…

Basketball Wife Says She Had No Idea Ex-Fiance was Broke

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Evelyn Lozada, probably the most notorious of the Basketball Wives who never got married, says that she had no idea that her ex-fiance Antoine Walker had gone broke when he gave her half a million dollars.   Lozada made the claim in bankruptcy court, where trustees are trying to reclaim the funds, claiming that Lozada received them illegally. Lozada is being sued by the bankruptcy trustee, who claims that Walker…

Iverson Bought New Wardrobe for Every Trip, Now Going Broke

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It is being reported that former NBA superstar Allen Iverson is now going broke.  While the star has not officially declared bankruptcy, his desperate attempts to play overseas and recent seizures of his bank accounts have let the cat out the bag.  Iverson has recently played on squads in Turkey and Puerto Rico.  Also, a Georgia judge froze Iverson’s bank accounts after he was unable to repay a jeweler for $900,000…