Jada and Will Smith Embroiled in the Bankruptcy of Friends Tisha and Duane Martin

by San Antonio Attorney

The superstar couple has been entangled with their close friends’ bankruptcy case after a presiding trustee expressed suspicion over a hasty sale over their Los Angeles mansion.

According to the bankruptcy filing, Tisha and Duane Martin transferred their title deed to a family member, and majority of the funds used in the transfer was financially supported by Will and Jada Smith.

The Martins, recently filed for Chapter 7 bankruptcy last January 7, are having financial problems and court filings show that they owe a total debt of $15,145,387.

According to their bankruptcy petition, the couple has total assets of $65,000 in real estate.  They also claim to have sky high expenses worth $16,953.

The Martins have declared $200 cash on hand and even lesser than $200 in their bank accounts.

Last 2014, the couple organized a brief sale with their lender.  Roxe LLC, owned by Michael Martin, Duane’s brother, who eventually acquired the title of their home.

The price of the short sale was funded by Treyball, another third party.  Treyball is apparently owned the Hollywood movie star Will Smith and his wife.

The Martins give prepaid monthly rents to Roxes LLC, without any contractual obligation.

The trustee assigned to the case, gave a testimony that the Martins apparently transferred their land title to Roxe LLC, due to the reason that they had full knowledge of the impending bankruptcy filing and they desperately attempted to save their mortgage from being sold to creditors.

The trustee added that it is uncertain whether the Martins will suffer sanctions from their actions.

David K. Gottlieb, the trustee, has lambasted the Martins for their non-compliant behavior after bankruptcy filing.  Gottlieb, said that the Martins still have to make an official turnover for their financial information.

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