Saying she is down to her last $1000 in cash, singer Dionne Warwick has filed for bankruptcy.
The famed 60’s singer, known for such hits as “Do You Know The Way To San Jose” and “Alfie,” filed for bankruptcy last week, after disclosing that she owes more than $10 million in back taxes to the U.S. government.
According to Ms. Warwick’s publicist, Kevin Sasaki: “Due to several consecutive years (the late ’80s through the mid-’90s) of negligent and gross financial mismanagement, Dionne Warwick has realized the current necessity to file personal bankruptcy.”
Along with $7 million in federal IRS debt, Warwick owes more than $3 million to the state of California in franchise taxes and $500,000 to a lawyer and a business manager. Her total assets are worth just $25,500, which includes 2 fur coats and 2 sets of diamond earrings, valued at $13,000. She also has clothing worth $5,000, art worth $5,000 and furniture valued at $15,500.
Aside from that, Warwick says she is broke!
