Mel B ‘Has Just £961 Left In Her Bank Account’ After Squandering £38m On Extravagant Lifestyle
Mel B has in her extravagant lifestyle wiped out her multi-millionaire status. This was revealed in court this week during her divorce case with estranged husband, Stephen Belafonte, who is demanding tens of thousands of pounds a month in maintenance.
In a shocking twist to their divorce battle, it was claimed the Spice Girls star has just £961 left in one of her company accounts.
Mel’s British account Moneyspider Productions, which was set up in 1997, holds the small amount of funds, as revealed by The Sunday People.
Its nature of business is listed as ‘Sound recording and music publishing activities’
A source told the Mirror: ‘Mel is an international superstar, still working as a judge on America’s Got Talent, but she only has a small amount of money in the bank, according to Companies House.
‘People may be very surprised.’
Mel also owns 20% of Spice Girls Limited which held £109,987 as of August 31, 2016. Her fellow bandmates own the remainder.
She owns 16% of Octopus Direct along with the other Spice Girls and music mogul Simon Fuller.
It held £10,549 as of August 31, 2016.
The singer’s money woes were revealed when she attended court in Los Angeles on Friday for the first time to face Stephen, who she says subjected her to years of physical and mental abuse.
The pair both have outstanding tax debts after making ‘improvident’ lifestyle choices, Los Angeles Superior Court was told.
She was revealed to be making between £147, 000 and £150,000 a month.
Belafonte, who claims his income is zero, is asking for backdated wages of around £90,000, an estimated £1,729 in perks, around £54,000 in spousal support and more than £150,000 to pay for his ongoing legal costs.
His lawyer, Grace Jamra, asked Judge Lawrence Riff to order the sale of the couple’s Los Angeles home if necessary. It is currently on the market for just over £6 million.
She said: ‘Their lifestyle was extravagant and affluent.
‘She wiped out all her Spice Girls money, approximately $50 million (£38 million) if not more’
Flanked by her legal reps, the pop star stayed quiet as she entered the building.
The former couple, who were married for 10 years, are battling over money and custody of their child.
Jacalyn Davis, representing Mel, spoke of their tax problems, saying they were ‘sustained through improvident lifestyle choices’.
‘They never had money at the end of the year to pay their taxes,’ she added.
‘All their community income was being spent and then some.
‘In this marriage that would be Miss Brown’s income from the Spice Girls.
‘Prickly things happen when the IRS (Internal Revenue Service) doesn’t get paid.’
On Friday, Judge Riff told the former couple he was ‘sorry they engaged in such a rancorous fight’ as he concluded the spousal support hearing.