Lil Wayne Could Lose House in Contract Dispute
by Sep Niakan | June 18, 2013
Even after paying nearly $7.75 million in back taxes owed to the IRS, rapper Lil Wayne may still lose his La Gorce Island waterfront home thanks to the resulting legal fees and fines from a contract dispute in California late last year. The performer’s production company, Young Money, owes $3.4 million that it has been unable to pay, leading to a potential seizing of assets by Miami authorities. In addition to the $11.6 million house, Wayne’s prized car collection is also up for grabs to creditors.
The lawsuit was initiated by Quincy Jones III and, as the plaintiff, is entitled to the receipt of all legal fees collected from Wayne in the case. Last year, Lil Wayne, born Dwayne Michael Carter, Jr., listed the house for sale for $12.9 million but no interest has yet been indicated in its purchase. It is thought that the rapper purchased the home for $14 million in 2010.
Photos of Lil Wayne's La Gorce Island home:
See more pictures here
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