I guess he caught the MC Hammer syndrome.

http://www.palmbeachpost.com/blogs/c...ch_tumble.html

‘Hip-Hop’s Liberace’ Storch tumbles into foreclosure

The famed hip-hop producer who tried to make singing sensations out of Paris Hilton and Brooke Hogan could soon be homeless.

SunTrust Bank moved earlier this month to foreclose on the $10 million Miami home of Scott Storch, according to Miami-Dade County records obtained by Page 2.1.

Storch, who helped make a Christina Aguilera a household name and worked for the likes of Beyonce, may have been worth $70 million as late as last year.

It’s been a lighting-quick fall from grace for the 34-year-old Storch, who once made the cover of Rolling Stone magazine under the headline: Hip-hop’s Liberace.

Storch was known to drive around SoFla in Rolls-Royces or Ferraris, spending hundreds of thousands in local nightclubs and keeping an entourage that would make Sean Combs blush with envy.

In his blinged-out heyday, Storch signed for two SunTrust mortgages worth a combined $7.75 million so he could buy a 10-bed, 16-bath mansion on Miami’s Palm Island. He hasn’t made monthly payments for most of this year, even after borrowing another $170,000 from friends, according to court papers.

Storch’s sprawling home also has been liened by an electric company for $11,215 and a security system installer. Storch still owes $17,151 for his state-of-the-art camera network — a system that couldn’t keep out repo men.

Over the past month, Storch saw his Ferrari Scaglietti and his prized motorcycle, a Bones Bike, repossessed.

Storch’s lawyer, Guy Spiegelman, didn’t return calls. But two weeks ago, he described Storch’s problem in an interview with the Associated Press as “a cash flow problem.”

Riding the popularity of a unique sound that blended techno and Middle Eastern riffs, Storch tried to make his then-galpal Hilton into a singer in 2006. But the songs he’d come up with were deemed too sexual for radio. A year later, his album for Hogan flopped.
Storch hasn’t had a hit since then.