Wyclef Jean is going through some financial problems right now. It was announced earlier today that Wyclef is facing foreclosure on a Miami Beach property if he failed to pay the $2 Million mortgage for the property.Â
Through a corporation he owns with friends, the former guitarist ofÂ The FugeesÂ borrowed $2 million from Home Equity Mortgage Corp. in 2004.
He wanted to rebuild a canal-front home next door to Kennedy clan stalwartÂ Anthony Shriver,Â Mariaâ€™s little brother.
But a series of construction liens filed since then shows the Pine Tree Drive project was burdened by a heap of financial trouble.
Construction for the property was put on hold when Jean and his partners couldn’t make up the rest of the balance of $177,913 to finish. Jeanâ€™s corporation now owes the bank $2.4 million. If Wyclef doesn’t pay off the home it will be sold on December 12 in downtown Miami.
Celebrity Jeweler Jacob The Jeweler has filed suit against super producer Wyclef Jean for acquiring more than $300,000 in unpaid jewelery after â€œrepeated demands for paymentâ€ were ignored. Between March 2002 and January 2006, Wyclef purchased more than $750,000 worth of Jewelery from Jacobâ€™s company. According to court papers, Jacob says the rapper still owes him $319,680 of it.
Jacob the Jeweler is currently serving two and a half years for lying to the cops investigating a money laundering operation.
Wyclef Jean recently took a group of foreign investors to Haiti in hopes to pour money into the local economy, which represents the poorest country in the Americas. In a statement to Reuters Wyclef said,
“I understand that there is a food crisis that needs to be addressed urgently, but at the same time donors need to inject funds in projects likely to bring sustainable results”
Wyclef has been on a mission to improve in agriculture, road projects and economic infrastructure of Haiti. Wyclef told Reuters, “Charity will never solve Haiti’s problems, Haitians want jobs, they want to develop their agriculture to produce food, not to everlastingly receive food assistance.”
Continue reading Career Moves: Wyclef Brings Investors To Haiti
Wyclef Jean has announced today a new partnership with World Food Programme. Together they will be working on a new organization called Together For Haiti, the mission is to provide food and jobs due to Haiti current food crisis.
Continue reading Career Moves: Wyclef Launches Together For Haiti