“Braxton Family Values” star Towanda Braxton is set to be grilled under oath about her financial situation as part of her bankruptcy case.
According to court documents obtained by The Blast, the reality star is scheduled to be deposed by her former landlord, Michael Wagoner, on November 21.
Braxton is in the middle of a Chapter 7 bankruptcy case debt totaling $547,056. In the bankruptcy case, Wagoner sued Braxton accusing her of owing him $76,000 in unpaid rent and damages to his property. He accuses her of lying about her income and assets to avoid paying her creditors. He is demanding the debt she owes him not be wiped clean in the bankruptcy.
She denied the allegations of fraud or that she has been hiding assets. The alleged damage to the rental home included knife holes in doors and bedroom walls, along with fire damage. He claims Braxton filed for bankruptcy as he was trying to collect on the money.In court documents, he has accused her of not disclosing all her income and property to the court. He is seeking the entire $76,000 owed immediately.
In newly filed documents, Wagoner brings up new allegations against Braxton. He claims to have recently learned information about her beauty company T. Braxton Beauty Company.
Braxton previously testified the company was generating no money. She claimed her business partner, Adam Tran, owned a 50% interest in the business. Braxton said Tran had been depositing money into the business account but claimed it was not her money.Wagoner has questions about this set up especially with the amount of money going in and out of the account. He obtained bank records showing around $50,000 being deposited into the account every month. The records show the same amount being spent during the month.
He claims the majority of the bank statements include Braxton’s personal transactions. He says she has “funneled her income” in the account. During the upcoming deposition, Braxton will be grilled about the transactions.
The Blast first reported, Towanda Braxton filed for Chapter 7 bankruptcy in April, listing $277,650 in assets but $547,056.39 in liabilities.
Her monthly income was listed as $4,692 with monthly expenses totaling $6,020, leaving her in the red.
Her assets included the new Georgia home worth $275k, $1,500 in household goods, $1k in clothing and only $150 in her checking account.
Towanda’s debt were listed as $417,715 to a mortgage company, $76k to her ex-landlord, $982 to Comcast, over a thousand to collection attorneys, $8,480 to Covenant Christian Academy, $6,211.30 in medical bills and even $35,000 to her sister Tamar Braxton for a personal loan. The case is ongoing.
Towanda recently shared a throwback video writing, “Heeeeeeeey!! #family #talent #fun #history @itsseank and @trickystewart @robinthicke wrote some amazing hits!! #thebraxtons #braxton #bfv #goodingoodbye #90s #love #kingladybug."
She shared this message to her fans, “When you hear or witness a person telling a ‘TESTI-LIE’. 😂😂😂 You ain’t gotta lie to kick it! 😜😜 🤷🏽♀”