The Broke and the Beautiful: Diamond in the Rough Edition

This week on The Broke and the Beautiful, jeweler Harry Winston sued ad agency Lipman, which has filed for bankruptcy. Also, the Clinton Foundation returned fraud money, and rapper DMX spoke to Dr. Phil.

Jeweler Harry Winston isn’t happy with luxury advertisement agency Lipman. According to the New York Post, the jeweler sued the ad agency, which filed for bankruptcy this week after stunning workers with its abrupt closure. In the suit, Harry Winston accused Lipman of transferring more than $1 million to corporate parent Revolate. “Lipman and Revolate actively and intentionally converted Harry Winston funds…for their selfish benefit,” the lawsuit said.

Miami business mogul Claudio Osorio did fundraising for a number of charities before he got prison time for  defrauding investors out of millions. This week, some of that money got returned. According to the South Florida Business Journal, the Bill, Hillary & Chelsea Clinton Foundation gave back $22,000 that had been donated by Mr. Osorio. The Clinton Foundation isn’t alone, either; earlier in the year, the Gloria Estefan Foundation returned $10,000in donation money. Mr. Osorio, who’s taken a turn in bankruptcy along with his InnoVida Holdings, also lined up celebrity endorsements from former NBA star Alonzo Mourning and retired Army general Wesley Clark, in connection with his efforts to raise money for affordable housing in Haiti.

DMX may be dealing with bankruptcy, but the rapper says he isn’t running form his obligations. This week, the rapper, whose real name is Earl Simmons, spoke out to Dr. Phil about the troubles he’s dealt with, including the $1.2 million he owes in child support. “If I’m making $13 million a year, then I can pay that,” he told the talk-show host. “And I haven’t made that in about 10 years, so of course I’m behind in payments, but the children are taken care of.”

We reported that entertainer Wayne Newton’s former estate was on the market earlier in the month, and now we’re getting a closer look at the property. The Wall Street Journal this week featured the property, which can be yours for a cool $70 million. The “equestrian style” estate comes with a decommissioned jet plane and eight other homes, among other attributes. Mr. Newton, also known as “Mr. Las Vegas,” moved into the house in 1968. H e sold the property in 2010 to CSD LLC, which was supposed to turn the place into a museum. But CSD filed for bankruptcy amid a dispute between Mr. Newton and the company’s owners.

Write to Melanie Cohen at [email protected]. Follow her on Twitter at @MelanieLisa.