Rihanna was 'effectively bankrupt'
Rihanna claims bad financial decisions from her accountants caused her to be ''effectively bankrupt'' in 2009.
Rihanna claims she was ''effectively bankrupt'' in 2009.
The 'Only Girl in the World' hitmaker blames her accountants' poor decision making for her fortune dwindling away from $11 million in cash at the beginning of the year to $2 million several months later.
In documents filed in her gross mismanagement case against the accountancy firm, Berdon LLP, Rihanna claims they gave her the go-ahead to buy a house priced between $7 and $7.5 million, which she did - and later sold for a $2 million loss.
To further add to her financial woes that year, the singer's expenses ''doubled'', TMZ reports.
In the lawsuit, Rihanna also claimed her 2009 'Last Girl on Earth' tour was losing money but she was never warned of this by the accountants.
Berdon previously claimed Rihanna's own ''financial action or inaction'' or those of people working for her caused her to lose money, not their decision-making.
They also dismissed the 'Diamonds' star's previous objection she paid an ''above-average'' commission of 22 per cent as something she had signed off on herself.
The 25-year-old star is now worth an estimated $43 million.
Latest Photo Galleries on xinmsn
asia celebrity buzz
Demi Lovato talks about body image issues and loving her curves, and credits Kim Kardashian for revolutionizing the generation's view of what beautiful... More Demi Lovato talks about body image issues and loving her curves, and credits Kim Kardashian for revolutionizing the generation's view of what beautiful is.
Date 29/8/14, Duration 1:07, Views 374