Storch's Money Troubles Get Worse
Producer SCOTT STORCH is facing further financial woes - he has been ordered to pay actor/film producer MATT SINNREICH $750,000 (£500,000) to settle an on-going business dispute.
Sinnreich filed suit against the Grammy-winner accusing him of reneging on a deal for them to found a company together in 2007.
The aspiring movie star claims he paid Storch $25,000 (£16,667) for a 25 per cent stake in the firm, but his legal papers claim Storch "failed to form the corporation and failed to return the $25,000".
Sinnreich sued alleging breach of contract and civil theft and when Storch failed to respond to the complaint, a judge granted Sinnreich's motion for default, ruling in his favour, in December (08).
And now a jury in Miami-Dade County, Florida have decided on the damages to be paid out - ordering Storch to hand over $750,000 (£500,000), according to the Miami Herald.
Storch hit headlines over the last few months after missing payments on his Miami, Florida mansions, his luxury cars and child support obligations. He has also pleaded not guilty to grand theft auto after allegedly failing to return a leased Bentley on time.
Storch, 35, recently opened up about his financial worries, blaming his money situation on a devastating drug habit that resulted in him blowing his multi-million dollar fortune on cocaine.