Last month actors Duane and Tisha Campbell-Martin were accused of trying to hide assets in their bankruptcy filing [click here if you missed that].
Now actors Will and Jada Pinkett-Smith are being accused of trying to help the couple de-fraud the bankruptcy courts...
From The Daily Mail
Will and Jada Smith have been roped into their best friends’ bankruptcy after a trustee presiding over Tisha Campbell-Martin and her husband Duane's case became suspicious of a short sale of their Los Angeles home.
The title of the famous couple's 7,000-plus square foot home was transferred to a family member, and 100 per cent of the money used in the transfer was funded by Will and Jada Smith, according to court papers obtained by Daily Mail Online.
The Martins, who have been together for 20 years, filed for Chapter 7 bankruptcy on January 7, claiming they are are drowning in debt and owe more than $15,145,387 in liabilities to creditors.
According to the court documents, in late 2014 the couple orchestrated a short sale with their mortgage lender in which a newly created LLC known as Roxe LLC - owned by Duane Martin’s brother Michael and Derek Folk, the couple’s tax preparer - took title to their home.
The short sale price was funded 100 per cent by another third party known as Treyball, which appears to be owned by Will Smith, 47, and Jada Pinkett Smith, 44, who have been friends with Duane and Tisha Martin for years.
Furthermore, the Martins - he's 50 and she's 47 - prepaid monthly rents to the landlord - Roxe LLC - despite there being no contractual obligation to do so.
The trustee presiding over the case suggests that the couple transferred the title to Roxe LLC potentially because they knew they were filing for bankruptcy and were attempting to save their home from being sold off to pay back creditors.