Sinbad, the highly entertaining '90s comedian/actor recently filed for bankruptcy due to owing $10,991,715 in debt. The major issue is that Sinbad has only $131,000 in assets and makes around $16,000 monthly, which isn't anywhere near enough to pay off his bills.
Sinbad, legally known as David Adkins, filed for Chapter 13 bankruptcy last month. The 56-year-old owes $374,979 to American Express, $2.3 million to the California Franchise Tax Board, $32,199 to the Bank of America, and $8.3 million to the IRS for unpaid taxes from 1998-2006, as well as federal and state taxes from 2009-2012.
Sinbad has yet to issue a statement regarding his financial woes.
