What had happen was…….
Sinbad is bankrupt AGAIN, or maybe he never came out of debt….because its only been a few years since the comedian filed for Chapter 13 bankruptcy for the SECOND time and apparently the comedian owes the IRS over $8 MILLION in taxes from 1998-2006 and claims that he is $11 MILLION in debt with only $131,000 in assets. no bueno! # payyataxes!!
According to the bankruptcy docs, TMZ obtained Sinbad earns only $16,000 per month and can’t afford to pay his bills. The documents show he owes $374,979 to American Express, $32,199 to Bank of America, and $2.3 million to the CA Franchise Tax Board.
Sinbad might be bankrupt but he is still HOOD-RICH because he still has some BIG toys in his possession that he probably won’t be selling any time soon. According to the report, Sinbad has a “2007 BMW 750i, a 2006 VW Beetle, a 2010 Ford F150, a 2010 Lincoln Navigator, $5,000 in home office equipment and 200 copies of ‘Sinbad’s Guide to Life’ currently for sale on Amazon for $6.25 each.”
Sinbad filed for bankruptcy once before in 2009, but he didin’t know what he was doing because the 2009 case was dismissed because he didn’t file the right documents.