Posted on Tuesday, November 25th, 2014 at 8:16 pm
American R&B artist Elgin Baylor Lumpkin a.k.a. “Ginuwine” is about to declare bankruptcy due to large amounts of unsettled debts, the Daily News reported on November 10.
News of the possible bankruptcy filing surfaced after the singer’s legal counsel revealed that Ginuwine had financial troubles with executive producer Robert Reives. The 44-year-old singer reportedly owed Reives substantial royalty payments from five music album deals, apparently totaling $1.25 million. Ginuwine claims that the statute of limitations has passed on the legal issue concerning Reives, and the two will appear in Federal Court to argue their case.
Much of Ginuwine’s financial success came from his debut hit, “Pony,” which topped R&B charts for two weeks in the late 90s. Overall, the R&B star has sold approximately 7 million records.
Ginuwine also has hundred thousand dollars worth of unsettled taxes, legal fees, and debts owed to other people, his lawyer claimed. The lawyer also said that the singer’s financial problems started after his recent divorce.