Cadillac Dealer' Timothy F. Martin to Jay-Z, Diddy, Beyonce, Fat Joe Commits Suicide

Timothy F. Martin, who became known as the Cadillac dealer to the stars and once owned a popular Englewood Cliffs, NJ dealership, committed suicide Monday night at around 6PM EST.  Martin, who counted Diddy, Jay-Z, Beyonce, Fat Joe, Maino, Ma$e, DJ Clue, DJ Envy, Swizz Beatz and many other celebrities as his clients, hung himself in his mother-in-laws home in Englewood Cliff, NJ last night right before being scheduled to go to court on indictment charges.
Less than two years ago, Martin was one of the nation’s top-five Cadillac sellers, which resulted in him opening up another dealership in Yonkers, NY.   According to reports, Martin boosted sales at his Sylvan Avenue business to more than $70 million.  He also formed a record label, Academy Records with Harlem bred MC Cardan, which released two successful mixtapes and enlisted the help of his celebrity clients.

But the recession hit him and his dealerships hard.  Martin was forced to close his Yonkers, NY dealership and last year told a Bankruptcy Court judge in Newark that his debt had reached $45 million, more than three times the amount of assets.  In addition employees complained that they were shortchanged on their health benefits with one employee even enlisting the help of Channel 7’s, 7 On Your Side.   Employees were denied commission checks and were told they had no medical insurance even though the premiums were still being withheld from their paychecks.
Martin filed for Bankruptcy protection last summer after GM took possession of his remaining cars and was indicted on 50 Million dollars in debt to over 199 creditors.  Martin was found dead from a suicide last night.

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