Cowell Victim Of Credit Crunch

Cowell Victim Of Credit Crunch

Tags: Simon Cowell

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Music mogul Simon Cowell could be another high-profile victim of the global financial crisis - he's reportedly set to lose millions over a failed property venture in Barbados.
The reality TV judge allegedly spent $21 million (£15 million) buying a villa on the Caribbean islands proposed £280 million Clearwater Bay development, which will feature a five-star hotel.
But the development is under threat due to financial problems and construction on the project has now been halted for the foreseeable future, according to British newspaper The Sun.
Cowell is now worried he could miss out on the dream bachelor pad, with a source telling the publication, "Its a big problem. Hes got a lot of money tied up over there and doesnt know yet whether hes going to get it back."


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