Jacob and Company Incorporated, the fine jewelery company founded by the New York businessman Jacob "The Jeweler" Arabov  has sued Wyclef Jean, claiming he owes money for watches and jewelry he received.

In Manhattan court papers filed Tuesday, it alleges that Jean bought several items between March 2002 and January 2006 for a total of $765,100. The company says that despite "repeated demands for payment" Jean has not paid the remaining balance of $319,680.

The company's founder, Jacob "The Jeweler" Arabov, whose high-profile customers have included Elton John, Madonna and countless rappers and athletes, was sentenced in June to 2 1/2 years in federal prison for lying to authorities investigating multistate drug ring.

Wyclef Jean has yet to comment on the lawsuit.

With the state of the economy, many people across the country are facing foreclosure on their homes in record numbers, and it seems as if one more name can be added to that growing list. Donda West, the late mother of rapper Kanye West, owes money from the grave.

According to court documents first obtained by CelebTV.com, Northern Trust Bank is foreclosing on Donda West's Illinois home.  Papers filed on July 29 in the L.A. Superior Court, indicate the bank is asking for $606,983.43 from West's estate.

Donda West's estate is worth a total of $150,000, respectively.

If payment is not given in full, the bank will take ownership of the property and resell it with the proceeds going to the claim. Any payment discrepancy will come out of West's estate.

Kanye West, though said to be the head of his mothers estate, personally owes no money in this matter unless his name is on the mortgage documents (which has yet to be discovered).

Donda West passed away last November from complications after plastic surgery, although a coroner's report concluded that West's heart disease and clogged arteries were factors in her untimely death.