How could a celebrity suddenly & humiliatingly go bankrupt?

dollydaydream4jc: How could a celebrity suddenly & humiliatingly go bankrupt?
I am writing a play and in order for the plot to work better, I need to make a female character go bankrupt, or at least suddenly loose a significant amount of money. She could be any sort of celebrity (depending on how she goes bankrupt), but I’d prefer if she was a singer or an actress. The way in which she goes bankrupt or looses money should be very sudden and humiliating, but somewhat humorous for her friends to tell about.

So tell me your creative suggestions for ways she could go bankrupt or loose lots of money!

Thanks!

Answers and Views:

Answer by Doctor Deth
easy – charging too much and not having the money in the bank to pay the bills when they come it – tons of real life celebrities have had that problem – Nicholas Cage is a major one currently – bought houses, an ISLAND, expensive cars – he basically spent more than he has, then has the nerve to blame his business manager who Cage refused to listen to

some people do not listen to their business managers and think they’ll make millions forever – it rarely happens that way – Lindsay Lohan will probably be broke soon enough – she has killed her career with your idiotic attitude and stupid things she does – will probably get fewer and fewer jobs for less money – her name doesn’t sell tickets anymore (if it ever did)

Answer by Tigg
Happens all the time. They are fiscal morons. Have no idea how to budget their funds. They earn 5 million and buy a 3 million dollar home, 75k car, 4500 for a handbag and then the IRS comes knocking for their share in taxes and the 5 mil is gone. simple as that.

Answer by Rush is a band
An artist or actress earns $ 3 million a picture – has a bomb and then interest dries up and either has to take less or doesn’t work for a while. Meanwhile they’ve built a lifestyle that takes that $ 3 million every year or so to support. The income can dry up a lot faster than the scaling back of lifestyle.

And it’s lose, not loose in this case.

good luck!

I like rpg’s idea – victim of a Ponzi scheme – like Bernie Madoff

Answer by rpg
It turns out that her investment banker was involved in a Ponzi scheme.

If unfamiliar with Ponzi schemes, see the wikipedia article at https://en.wikipedia.org/wiki/Ponzi_scheme