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Daily Mirror
Daily Mirror
Entertainment
Zara Woodcock

From pop star to poverty - all the millionaires who squandered their cash

These stars have blessed our ears with iconic music over the years, but the fame and fortune sometimes proved to be too much.

From Westlife's Shane Filan to Blue's Lee Ryan, many of them earned millions with their hits only to declare themselves bankrupt years later.

Not all of them stayed bankrupt, as some managed to secure gigs and better deals to make their way back to luxury living.

Blue singer Lee Ryan was recently fined £1,501 over motoring offences and claimed he had "no money" due to the coronavirus pandemic.

Meanwhile, Atomic Kitten star Kerry Katona declared herself bankrupt in 2008 after failing to pay tax bills.

Mirror have put together a list of stars who went from riches to rags after years in the limelight.

Lee Ryan (Blue)

Lee was recently fined £1,501 (REX)

Lee Ryan recently told a court he has "no money" after being fined and banned from driving for 12 months over a motoring offence.

During the hearing yesterday, which Lee attended via a remote link, he was found guilty of failing to tell police who was driving his white Mercedes van and was also fined £1,501.

However, the star claimed that he no longer had any savings due to the lack of work during the coronavirus pandemic.

According to Celebrity Net Worth, he is now worth $1,000 (£734) after previously being worth $8 million (£6.2 million).

Lee wasn't the only person from his band that lost all his money.

He was actually the last member of the to file for bankruptcy, in 2015, with Duncan James filing in 2013 and Simon a few weeks after.

Antony struggled financially in the wake of the band’s first split in 2004, with the band’s company Blueworld Ltd going into administration in May 2013.

In 2018, Lee admitted all his money was put into tax avoidance schemes, which resulted in his bankruptcy.

Shane Filan (Westlife)

Shane (second from left) rose to fame with Westlife (Getty Images)

Shane Filan was part of one of the biggest boy bands of the 2000s, Westlife, and gave us hits such as My Love and Uptown Girl.

Before the band split in 2012, the group released 13 albums, embarked on 12 world tours, earned 28 platinum discs and sold more than 55 million records across the globe.

Lead singer Shane was left devastated when his property empire went completely bust in 2012, leaving him with debts of £18million.

The Irish star and his brother Finbarr ran a property development company called Shafin Developments but had taken out many loans to build a 90-house estate, a nursing home and a supermarket.

When the recession hit, their plans had to be shelved and the company collapsed.

Speaking to independent.ie in 2013, he said: "There were a few very difficult years where I was quite worried and scared.

"But you take yourself out of the bubble, and you realise it's happening all over the world, especially in Ireland."

Six years later, in 2018, his wife Gillian was also declared bankrupt due to their joint loans.

Kerry Katona (Atomic Kitten)

Kerry is now a millionaire again (Dave J Hogan/Getty Images)

Kerry Katona was part of the girl group Atomic Kitten from 1998 until her first departure in 2001 and again from 2012 until she left again in 2017.

The band released several hits and even won many awards over the years.

However, in 2008, Kerry was declared bankrupt at the High Court in London after she failed to pay the final £82,000 of a whopping £417,000 tax bill.

She filed for bankruptcy again in 2013 at her local office in Wigan.

It was reported her legal woes continued as she supposedly filed for bankruptcy again in 2018.

Thanks to the subscription site OnlyFans, Kerry managed to become a millionaire once more.

Since May 2020 the mum-of-three has been selling steamy pictures at a monthly subscription cost of £17.99.

Kerry recently told us : “People are quick to say, ‘she’s desperate’ if I get out a bit of nipple, but I’ve made my first million since bankruptcy and I’m so, so proud."

Toni Braxton

Toni filed for bankruptcy twice (Getty Images for dcp)

R&B singer Toni Braxton sold over 20 million albums, but still lost all her money due to an awful record label deal.

According to the star, she signed a sham deal that meant she got royalties of less than $2,000.

The Unbreak My Heart singer's lawyer previously told the LA Times that Toni was only receiving 33 cents per album.

She launched a lawsuit against her record label Arista/LaFace, which was unsuccessful, and proceeded to declare bankruptcy in 1998.

However, she received a settlement check from the label, which was later revealed to be over $20 million.

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In 2007, she cancelled shows at her Las Vegas Residency at the Flamingo Hotel due to health reasons.

She spent three years focusing on getting better, after being diagnosed with Lupus and heart issues, and had to file for bankruptcy in 2010.

Toni thought she could self-finance her residency as she believed it would help her avoid the financial woes from her previous bankruptcy.

She told ABC News in 2012 : "The Vegas show, I just renewed my contracts with all my vendors. And then a month later, I got sick. I couldn’t work and could not afford to pay them back."

Thankfully, she managed to settle the bankruptcy case by 2013.

Katie Price

Katie has been jetting off on multiple holidays (Ken McKay/ITV/REX/Shutterstock)

Katie Price might not be a pop star but the former glamour model made headline news over the last few years over her bankruptcy.

Despite filing for bankruptcy, the star has been seen on multiple lavish vacations and even had many cosmetic procedures done.

Katie has claimed to be struggling for money in recent years, and she still owes her creditors more than £3million, despite being made bankrupt over two years ago.

The mum-of-five, who no longer works as a glamour model, has a toiletries business that sells bath bombs, a YouTube channel and posts regular sponsored Instagram content.

The 43-year-old owes a total of £3.265million to her creditors from her Jordan Trading Ltd company after failing to pay off her debts, despite agreeing to an individual voluntary arrangement (IVA) in 2019 to pay back £12,000 a month to get herself back in the black.

Katie is still listed as the director on Companies House, the business directory that keeps tabs on company finances.

Despite her bankruptcy, it hasn't stopped Katie from sharing her holidays and makeovers with fans.

Do you have a story to sell? G et in touch with us at webcelebs@trinitymirror.com or call us direct 0207 29 33033.

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