The Real Deal Miami

Rapper Lil’ Wayne’s $14M La Gorce Island home could be seized

April 12, 2013 01:00PM

From left: the La Gorce Island home that Goldstein is looking to seize and rapper Lil’ Wayne

Following a November judgment against him in a contract dispute, the rapper known as Lil’ Wayne may lose the La Gorce Island home, for which he reportedly paid $14 million in 2010, Gossip Extra reported.

Wayne’s production company, Young Money, should perhaps consider a change of name — maybe Young Bankruptcy? — as it now owes $3.4 million in fines and legal fees, Gossip Extra said. Since the company failed to pay what it owes, authorities may seize assets, including the home.

Miami lawyer David Goldstein — the attorney for victorious plaintiff Quincy Jones III in the case and the party to whom the legal fees are due — is moving to seize some of Wayne’s South Florida assets, including the waterfront home and several pricey cars, Gossip Extra said.

Wayne paid $7.7 million in back taxes on the home last year, and listed it for $12.9 million, though it does not appear that a sale is moving forward. [Gossip Extra] –Guelda Voien