Russell Armstrong: Huge Financial Debt Drove Him To Suicide

Posted on Oct 17, 2011 @ 10:00AM

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Russell Armstrong committed suicide because of a large outstanding debt, RadarOnline.com is exclusively reporting.

The Real Housewives of Beverly Hills star Taylor Armstrong is telling close friends that she has discovered that her estranged husband owed a significant amount of money to a private individual.

"Russell couldn't repay the loan. Taylor believes the debt is at least $250,000, but it could be significantly more," a source close to the situation tells RadarOnline.com.

PHOTOS: Russell Armstrong and Taylor Armstrong In Happier Times

"Russell expressed his concerns to Taylor about his financial woes in the days before his suicide. She had no idea how big the debt was when Russell discussed it with her. It's now obvious to Taylor that Russell felt he had no other way out."

As RadarOnline.com previously reported, Russell's close friend and business associate Alan Schram killed himself the day after Armstrong's August 15 death.

Schram also owed the same amount of money to the same person that loaned Russell the money. "Alan took his own life, because he also owed at least $250,000 to the same person that advanced Russell the large amount of money," the associate reveals.

PHOTOS: Taylor Armstrong Visits Forest Lawn Memorial Park

Suicide wasn't Russell's only plan, he first considered leaving the country, and essentially dodging his outstanding financial obligations. "Taylor has uncovered information that Russell was just going to disappear, and move abroad, and try to start all over again foreign. Taylor will never know why he didn't pursue that plan.

"What Taylor knows for sure is that Russell took a lot of burden and secrets with him to the grave, that she will never have answers to, and maybe he did that because he was trying to protect her.

"Taylor is now moving on with her life, yes, she has questions, she always will. However, now she isn't letting those issues consume her, it's not going to change anything now," the insider states.

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This fake biatch knew just exactly what Russell's finances were. She just did'nt care as long as she could keep spending money. She turned a blind eye to all of it.

by rudy96
Posted Tue, 10/18/2011 - 11:40pm

Either way good riddance to him. i never liked him. not to mention he was a woman beater

by meyeyes
Posted Tue, 10/18/2011 - 6:32pm

Her mouth hasn't stopped since his death. It's starting to look like it wasn't suicide, but a little something
to boost ratings. I really think this guy was murdered for the show.

by copperchicken
Posted Mon, 10/17/2011 - 6:40pm

oh please the guy was only on the show for a combined 2 minutes the entire season. he was hardly relevant

by meyeyes
Posted Tue, 10/18/2011 - 6:34pm

R/O reported: a $60k b-day party for Taylor paid by Russell; Russell's mom saying Taylor spent $90k on Russell's AmEx AFTER they separated; Kennedy's kindergarten schl's tuition= $10k-15k? Doesn't Taylor make ~$250k/yr on RHOBH?

by anne_000
Posted Mon, 10/17/2011 - 5:14pm

Anyone ever report if he had a life insurance policy? And if he did, if it covered suicide? I am guessing he did have one for a large amt. that at least went to his daughter, with Mom overseeing of course.

by Hotincal38
Posted Mon, 10/17/2011 - 1:35pm

Taylor has spoken many times that her and hubby worked TOGETHER on their different business's. She knew! Why anyone, housewives included believe a thing she says is beyond me. MEN beware she is on prowl.

by Hotincal38
Posted Mon, 10/17/2011 - 1:34pm

It is pretty easy for her to minimize his death like this and excuse it away as conveniently as she and the Bravo cast need to, to not own up to their own participation in trying to destroy him publicly on TV for his sins, while they continue to sin.

by CriCkeTT
Posted Mon, 10/17/2011 - 1:16pm

She was his wife, therefore just as responsible for his debt right? How can she prove for certain that he did not take his life because he knew he was going to be exposed for being abusive and owing money, on national TV? Hmm?

by CriCkeTT
Posted Mon, 10/17/2011 - 1:15pm