Scott Storch has been the record producer with the Midas touch, crafting gold records for the likes of Justin Timberlake and Beyonce, but it wasn't enough to save his $7 million Miami mansion this week.
The 10-bedroom, 16-bath waterfront home was foreclosed on last Friday, sold at auction to SunTrust Bank for $5.5 million, TMZ reported yesterday.
Storch had defaulted on the home last July, but the bank couldn't take back ownership after Storch declared bankruptcy.
At 35, Storch has lived a lifetime of drama. He once dated Paris Hilton and was rumored to have dated Lil Kim, and the lists of artists he's worked with reads like a who's who of the past 10 years of hip-hip and pop music.
A 2006 Rolling Stone article detailed his excesses, including millions of dollars worth of cars and jewelry, as well as a penchant for smoking weed at a near constant rate.
His net worth was reportedly over $70 million in 2006. Just three years later he was bankrupt.
Things got even worse for Storch in April, when he was arrested in Miami for grand theft auto for failing to return his leased Bentley months after it was supposed to go back to the owner. The charge was dismissed in June.
Things may be looking up for Storch, though. He reportedly has a deal in the works for a reality show chronicling his life.