That money would also allow Martin to pay back a $1.4 million loan he received from his longtime friend Will Smith a while back.
Martin reached a settlement earlier this month after he was hit with a lawsuit from the trustee who was handling his and Campbell-Martin’s bankruptcy case.
The trustee accused Martin of using a company called Roxe LLC —- which apparently was owned by his brother — to hide $2.6 million in assets, which includes the mansion that he purchased for $900,000 in 2006.
Martin later borrowed $1.9 million to remodel the home but eventually defaulted. Smith and his wife Jada Pinkett Smith then loaned Martin $1.4 million to buy the house back from the bank, which he did through Roxe LLC.
Roxe LLC owned the 9,000 square foot home after that, and Martin and his ex-wife began paying $5,000 a month to that company in rent.
Eventually, as part of the lawsuit settlement, Martin agreed to sell the home for $2.45 million, and $1.5 million would be paid back to Smith through his company TB Properties LLC. Plus, $122,000 would go toward back rent, $485,000 to pay off creditors and $170,560 would go to Roxe LLC.
Campbell-Martin is attempting to block the settlement because she says it’s “A dishonest debtor’s dream,” according to The Blast. “Duane Martin defrauded the estate and it’s creditors in a complex scheme to hide his multi-million dollar family home, and now stands to walk away not only with his discharge intact, but with a share of the proceeds from the Trustee’s proposed sale of the home.”
The actress also said she’s not against the home being sold, but she was never consulted about it. And she doesn’t believe anyone in their family should be making a profit.
Campbell-Martin filed for divorce from Martin in 2018 after 20 years of marriage. The judge has yet to rule on her request.