News, Citibank Sues Ed McMahon for Outstanding Debts. (bankruptcy, foreclosure, money)

[John1960]

LOS ANGELES -- Citibank is suing Ed McMahon, seeking to recoup nearly $200,000 lent to the financially strapped Hollywood icon, court records show.

Citibank filed the lawsuit against McMahon in Los Angeles Superior Court on June 9, according to the documents. The bank's suit seeks at least $179,687 in damages as well as attorney's fees on debt incurred within the past four years.

Newsmax.com - Citibank Sues Ed McMahon for Outstanding Debts

[SpeedyAZ]

This just goes to show that no matter how much money one has or makes, it's still possible to overspend and go into debt. I just wonder how someone who over his lifetime made tens or even hundreds of millions of dollars could go into such debt. You'd think he'd have quite a substantial nest egg to retire on but evidently not. I also hear that they want to foreclose on his multi-million dollar Beverly Hills home. Hopefully someone throws a benefit for him, I hate to see someone as well liked as Ed McMahon have to live in poverty the rest of his days.

[Donn2390]

Originally Posted by SpeedyAZ

I just wonder how someone who, over his lifetim, made tens or even hundreds of millions of dollars could go into such debt. Hopefully someone throws a benefit for him, I hate to see someone as well liked as Ed McMahon have to live in poverty the rest of his days.

It's easy to blow millions, just do as Ed did, and marry a gold digger
30 or 40 years younger than you. The money will evaporate..!
The word is, he does have friends that want to help, but they don't want to give him money his wife will get her hands on and blow.
I'm sure his bride married him for his macho, good looks............

[cdelena]

There is no indication the Ed is declaring bankruptcy or is broke... he is simply refusing to pay hid bills. Probably forcing foreclosure on the house because of the drop in value, and likely looking for a settlement with Citi. My guess it is just deadbeat actions by a guy that knows he can get away with it.

[Lakewooder]

I remember seeing his biography on BIO channel (or was that A&E since all BIO shows now are stupid current trollops and tweedledums) ANYHOW..

Ed was from poor circumstances and had a little bit of an insecurity problem when he first came to Hollywood..he said his father told him that every place he went, he should 'walk in like he owned the place'.

[scottv]

Originally Posted by Donn2390

I'm sure his bride married him for his macho, good looks............

You are correct, SIR!

[Lakewooder]

With that, does anyone remember the little Ed laugh speaker sitting in his tonight show chair on SNL?