Latifah Muhammad
photo: instagram

Akon Owes $250K On His 2010 Ferrari, Facing Repossession [Photos]

 

Akon’s four-year-old Ferrari 458 Italia might get snatched back from the leasing company if he doesn’t part with some of his stacks. The Konvict Music head owes $250,000 on the 2010 white luxury vehicle.

TMZ  got hold of documents stating that Akon’s car might get repossessed if he doesn’t cover the past due amount. Since the car is a little old, the balance is actually less than the Kelly Bluebook value, which is $225,000.

Akon says he’s made 37 payments, which he must not realize isn’t actually enough to pay it off. His lease is $360,000.

It’s not that he doesn’t have any money. He’s worth $80 million, up from $12 million back in 2008. A large part of that money comes from his music mogul moves, most notably with Lady Gaga.

The good news is Akon’s not alone in these public money matter. His brother, Bu Thiam’s, mansion has been seized by the law. So yeah.

To end on a positive note, Akon’s been traveling the world and having a pretty good time doing so.

See photos of his Ferrari and globetrotting in the gallery.

 


Photos: Instagram

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Comment Comments: 1 Tags Tags: konvict music, repossession
  • solofromtoronto

    HHW eats bum

No thanks