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Newton Faces Losing His House!

| Filed under: Super SeniorsLegal MattersSin City

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Earlier this month, we told you about Wayne Newton abandoning his plane at a Detroit-area airport after leaving it there for work over three years ago and then failing to pay for its storage, owing a total of about $30,000.

And now to make matters worse, Mr. Las Vegas is facing foreclosure!

Newton's former friend, Las Vegas Motor Speedway executive O. Bruton Smith, is suing the performer for a delinquent loan on $3.35 MILLION!

According to the suit, back in March 2006 Newton asked Smith to help guarantee a $3.75 million loan from Bank of America, which was later was modified to a $3.35 million loan.

Newton wanted to refinance some existing debt and used his 38-acre ranch and a $2 million private jet to secure the loan.

However, the loan needed to be repaid by May 30, 2009, but the Newtons didn't live up to their end. And according to the suit:

“Defendant Newton informed plaintiff Smith that he considered Smith’s personal guaranty of the loan as a formality and that the Newtons and Desert Eagle would sell personal assets to pay off the loan before allowing B of A to pursue Smith for repayment of the loan.”

So Smith then purchased the loan from BoA last October and then in November sent notice to Newton to repay him.

The suit claims at the time of the loan, Newton knew he wouldn't be able to repay it even with his assets, so Smith is claiming intentional fraud.

The Tropicana better give him a pay raise or he needs to find a second job. But pay up!

[Image via Digital Creations / WENN.]

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19 comments to “Newton Faces Losing His House!”



  1. 1

    well the only solution?

    do a reality tv show wayne



  2. 2

    How did Wayne blow all of his $? Nic Cage style?



  3. 3

    wayne has always lived an over the top life and like so many hollywood people, they can't get it through their stupid, idiotic, moronic heads that they will not be making the same money FOREVER…. How can most of us posters feel bad for them when we have to take a loan out just to get a crappy car? We can't. Most of get in some trouble with credit cards, but because of 24% interest rates, not because we can't pay the mortgage on 3 of our mansions, and we have a plane sitting in another city. You have posters here that haven't worked in a while and that $30k he hasn't paid for repairs, would be a welcome salary for them. No, most of us can not feel sorry for Hollywood people that just take millions and piss it away without saving any of it for later on in life. We can't even imagine having that type of money



  4. 4

    he cant even afford a cheeseburger



  5. 5

    Orange hands. Self Tanner Fiasco?



  6. 6

    He can borrow it from his daughter KD LANG!



  7. 7

    I just don't get it. This guy has been living like a king and playing a permanent gig in Las Vegas since forever! He has ALWAYS worked. I have no sympathy for fools like him who have been given opportunities and stuff the average slob never gets. People go to Vegas and pay BIG money to see his stupid show. Now he is broke? Tough.



  8. 8

    I love it when republican douch bags lose……



  9. 9

    Well, he needs to just sell off some of that land. It USED to be out in the country.. Now it's in the middle of a bunch of neighborhoods under the incoming flight path & kittty-corner to a Jack in the Box / Strip mall. Anyone in Vegas ever notice that when you drive by with your car windows down it smells like Cat Pee? It's b/c of all those Peacocks he owns running around.. hahaha.



  10. 10

    Re: old aunt Judy – That's HILARIOUS. You mean his CLONE, right?



  11. 11

    what a dumb fucking idiot. i wish i had his problems, he should put a gun to his head and kill himself.



  12. 12

    He obviously spent too much on horrendously bad plastic surgery



  13. 13

    How the hell do these things happen? He must be a gambling addict. Where else would ALLLLLL his money go?



  14. 14

    How sad…NOT! But honestly, who knows if he is just foreclosing because he owns 1 too many properties. I don't feel bad for people who have mad so much money in their lives that it can grow out of their ears; especially when children in Africa are malnourished and dying of hunger…SOMETHING IS REALLY WRONG WITH THIS REALITY!

    - Maurizio Maranghi -

    Reduce, Reuse, Recycle



  15. 15

    It's John Travolta wearing a Wayne Newton mask.



  16. 16

    come on Perez, the most obvious thing in this pic is his ORANGE PALM—hellooo, are you the gossip columist here, or do i have to do all your work for you!:) xoxo



  17. 17

    Re: papatoony – This man has never gambled in his life. I know Wayne personally and I will take up for him until the bitter end. He is a wonderful man and until you have the facts I believe I would keep my mouth shut!!!!



  18. 18

    Wayne and his wife, Kat, are friends of mine and 2 of the "Good People". Unfortunately he has been taken advantage of many times by the people he trusts the most. He has faced problems like this in the past and come through, he will do it again!!!!!!!!!!!!

  19. @v@ says – reply to this


    19

    This man has made more money than most of us on here put together, times ten thousand, or even more. A lot of people lost a huge chunk of their investments in that little derivatives bust, and the chickens are coming home to roost; and there will be more. Invest your OWN money if you are able, folks, and put your retirement funds into safe vehicles. Anything bonus is ok to play with market wise.