Jussie Smollett Loses on Secret Sale in Studio City

Variety ^ | July 20, 2019 | Mark David

[ptsal]

Jussie Smollett has sold his San Fernando Valley view home in the foothills above Studio City, Calif., to a non-famous couple in a clandestine off-market deal valued at $1.655 million. Unfortunately for the legally beleaguered former “Empire” star, fired in the wake of a controversially dismissed, 16-count felony indictment brought for allegedly staging a fake hate crime with him as the victim, didn’t have much luck on the real estate merry-go-round. Not counting carrying costs, improvement expenses and real estate fees, Smollett took a $30,000 loss on the hillside contemporary bungalow that, as was sussed out by the Blast, he scooped up during better professional days, a bit more than two years ago, for $1.687 million.

[ptsal]

[more spin] Smollett, who has understandably laid low the last several months and was recently reported to be “camping out in New York while working on a ‘new project’ and ‘lining up work’”, was cleared of all charges in March but is still mired in the tangled legal aftermath of the ugly imbroglio. He’s not only staring down a $130,000 lawsuit brought by the city of Chicago to recover money spent investigating the alleged hoax, but a special prosecutor’s review was called by a Cook County judge and, back in March, Donald Trump weighed in by tweet to say the FBI & DOJ would also review the case, although it’s not clear if that is happening.

[ptsal]

News for the weary in Chicago.

[lgjhn23]

The useless SOB should be in jail.

[sphinx]

“Cleared of all charges” = getting a black privilege free pass.

[Red Badger]

He’s having to pay some huge legal bills, so he’s having a garage sale..........................

[Redmen4ever]

This is a smart move on Smollett’s part.

Actors and athletes and lottery winners just assume the big bucks will roll in forever. They easily adopt lifestyles involving millions of dollars in overhead (mortgage payments, maintenance and upkeep, agents and various other hangers-on, and splashy spending). Then, when the big bucks stop rolling in, or maybe just moderate, they’re forced into bankruptcy. Then, in liquidation, they don’t realize fair value for their homes, cars, etc., and go completely bust, and wind up with nothing.

It would be very smart for actors and athletes and lottery winners to put a big chunk of their fast money into a trust fund, and try to live off the interest. Also, when they buy mansions and such, to buy with cash. Compare Michael Jordan, Alex Rodriguez and George Foreman to most celebtards. These fellows parlayed their big bucks into financial fortunes. In contrast, 3 out of 4 ex-NBA and ex-NFL players are bankrupt within five years out of the league.

[GnuThere]

Doesn’t he still have the mail fraud investigation going on?

[GreyFriar]

I heard on WLS radio news this morning that Smolett may not be “free and clear” of charges for his fake mugging. Apparently he can still be charged with committing a hate crime.

[originalbuckeye]

He must not be able to pay his mortgage. I suspect his attorneys made him sell the place so he could pay them.

[VietVet876]

It smells like a back door deal alright.

[US_MilitaryRules]

Not George Foreman. I believe he was at rock bottom when he got the call for the Grill gig.

[ptsal]

The $64 question for Juicy is linked to his willingness to roll over on Kamala and Corey.

Now, there is a thought.... Is this a really big hoax?

[Redmen4ever]

Interesting.

Maybe he learned about money in “the school of hard knocks.”

[NesteaZen]

I’m thinking the same thing. On the other hand it’d be extremely stupid to make one as a celebrity. I’m sure the buying party could face some charges too, if caught.