Tags: sinbad | bankrupt | again | 10m | debt

Sinbad Bankrupt Again, More Than $10M in Debt, Owes IRS $8M

Monday, 20 May 2013 02:10 PM

By Megan Anderle

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Sinbad, the 1990s comedian who is famous for his roles in "Houseguest" and "Jingle All the Way," is millions of dollars in debt and has filed for bankruptcy for the second time since 2009.

Sinbad, whose real name is David Adkins, filed for Chapter 13 bankruptcy last month. He says he is $10,991,715 in debt and only has $131,000 in assets.

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The 56-year-old comedian says he owes $374,979 to American Express, $32,199 to Bank of America, and $2.3 million to the CA Franchise Tax Board, according to TMZ.

The onetime HBO favorite claims he owes $8.3 million to the IRS for taxes from 1998-2006, in addition to state and federal taxes from 2009-2012.

Sinbad earns $16,000 per month, according to the bankruptcy documents TMZ obtained.

Some of the comedian's possessions include a 2007 BMW 750i, a 2006 VW Beetle, a 2010 Ford F150, a 2010 Lincoln Navigator, $5,000 in home office equipment, and 200 copies of "Sinbad's Guide to Life," which is currently going for $6.25 each on Amazon.

In the 1990s, Sinbad was a well-known comedian who starred in several television specials and movies. Despite those successes, the entertainer filed for bankruptcy in 2009, however, the case was dismissed because he didn't file the right documents.

In March 2013, Sinbad told Oprah he never lived an extravagant lifestyle.

"I didn't buy Bentleys. I didn't live large. I invested in me. I invested in a lot of other people. I would not change it; I would not go back," he said, adding that he would rebound eventually.

"It's never over. There's no one defining moment that kills you or makes you," Sinbad told the TV host.

In 2010, he appeared on a season of "The Celebrity Apprentice" with Donald Trump but was fired after week two. He said he regretted the decision to go on the show.

"I never should have done 'Celebrity Apprentice,'" Sinbad told Oprah in the March interview. "I didn't want to do it because I didn’t want Donald Trump to say, 'You're fired.'"

TMZ's phone calls to Sinbad have not been returned regarding his recently filed bankruptcy.

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