Hip-hop pioneer DMX filed for chapter 11 protection bankruptcy yesterday, following his recent arrest for suspicion of driving under the influence and without a driver’s license in South Carolina.
The rapper claims that he has $50,000 in assets and between $1 to $10 million in debt.
According to court documents, Earl Simmons – also known as DMX – has an outstanding amount of loans, including $1.24 million in child support and more than $21,000 on an auto lease. His main asset is a 50 percent stake in property in Mount Kisco, New York.
As for DMX’s arrest last Friday, The Wall Street Journal reports that a representative for DMX said the New York MC was never charged with a DUI, since he passed a breath test in jail and was released shortly after posting $1,235 in bail.
SOURCE: Rolling Stone
