This teaches us a valuable lesson: Don't lie on your insurance forms. It can come back to haunt you, and in Toni Braxton's case, it can put you on a downward financial spiral.
In 2006, Braxton took out "show insurance" through her hotel, Lloyd's of London, for her act at the Flamingo Las Vegas Hotel & Casino.
Toni's heart condition began to act up during the middle of her show's run, so she had to very unfortunately bail on the show, but then found out that shes was still on the hook with the hotel for LOTS of $$$.
Toni's office called Lloyd's about the insurance plan, but they wouldn't honor their end of the agreement, arguing Toni had an undisclosed, preexisting medical condition, which would therefore make the insurance policy null and void.
…And that's how Toni Braxton's financial disaster began.
Whose side are U on? Team Toni or Team Lloyd's?
[Image via WENN.]
Tags: financial disaster, flamingo las vegas hotel and casino, lloyds of london, show insurance