Once upon a time music producer Scott Storch was once said to be worth $70 million, money he earned by producing records for Christina Aguilera, Brooke Hogan and Beyonce among others. But Storch's penchant for high living has gotten him in trouble. For the last year or so he's been struggling to hold on to his home on Miami's Palm Island. TMZ reports that the battle is at an end. Storch defaulted on the property last July but then declared bankruptcy. Now the bankruptcy order has been dismissed and SunTrust bank, which held two mortgages worth a combined $7.75 million against the property, bought the property back at auction on Friday for $5.5 million. Storch has said that he lost money during a period of time when he was addicted to cocaine and he went into rehab earlier this year.
http://www.luxist.com/2009/08/25/sco...is-miami-home/
Ouch
