DMX Bankrupt After Disclosing Under $50,000 in Assets, $10 Million in Debt
Earl Simmons, the rapper known as DMX, filed for Chapter 11 bankruptcy on Monday while listing $50,000 in assets and $1 million to $10 million in debt.
The New York native and current South Carolina resident owes $1.24 million in child support and more than $21,000 on an auto lease, among other obligations. His principal asset is a 50 percent stake in a property in Mount Kisco, N.Y.
"DMX's financial strains have been inhibiting his career for several years. Poor financial management by prior representation have caused him to be ineligible to retain a passport. The purpose of this bankruptcy filing is for reorganization so he can perform for his fans [overseas]. We are currently planning a tour in Europe and Africa for the fall of 2013," Domenick Nati, a representative for DMX, said in a statement.
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DMX was arrested last Friday in South Carolina for suspicion of driving under the influence and for failing to have a valid driver's license, according to Reuters. However, a representative for DMX said the rapper was never charged with a DUI because he passed a breathalyzer test in jail and was quickly released after posting $1,235 in bail.
The rapper was pulled over at 3 a.m. in Greensville, S.C. and was suspected of being under the influence. However, he passed a breathalyzer test and was charged with driving without a license, reported HipHopDX.
"Allegations about DMX being arrested for drunk driving are false. He was arrested early this morning but quickly released. X was given a breathalyzer test and easily passed it. He is back at his home in South Carolina and we are continuing our focus on his upcoming album and acting roles," said his publicist in a released statement.
Information released by the police station says he paid a fine and was able to move on.
Just last year he was also charged for driving without a license, and in 2008 he faced multiple arrests from reckless driving at 102 mph and animal cruelty allegations, reported Freep.com.
