Scott Storch was ordered to pay actor/film producer Matt Sinnreich, 23, $750,000 over a business dispute.
A Miami-Dade jury ordered the famed producer to pay Sinnreich the money after the two agreed to begin a company in June 2007, according to the Miami Herald. The company’s plans included signing and producing singer Sindy Espitia and Darrell “D Shep” Sheppard of Miami.
Sinnreich paid Storch $25,000 for 25 percent of the company, but claims in court documents that Storch “failed to form the corporation . . . and failed to return the $25,000.”
Sinnreich’s complaint alleged breach of contract and civil theft. When Storch fialed to reply to the compalint, Judge Ronald Friedman granted Sinnreich’s motio. Jurors recently decided the damages amounted to $750,000.
Although Storch was once worth an estimated $70 million, he has had numerous financial problems, including late child support payments, as well as owing $722,906.19 in taxes for his $10.5 million mansion.