Salim Mehajer was today declared bankrupt by the Federal Circuit Court after one of his companies failed to pay a debt of more than $200,000.
According to The Sunday Telegraph, Mehajer owes hundreds of thousands of dollars for a marble staircase that he had installed in his Lidcombe home in 2014.
The lavish, back-lit staircase later featured in rapper Bow Wow's video clip Too Real and the 31-year-old has carried out a number of photoshoots in front of the installation since.
But after Mejaher failed to pay Prime Marble & Granite $596,178 for the staircase and other stonework they carried out on his property, they sued the controversial former Auburn deputy mayor and won.
The Sydney businessman was then ordered to pay the invoice costs and an additional $400,000 for the company's legal fees but once again failed to do so, resulting in a bankruptcy notice in November last year.
And now a GoFundMe page has been set up to attempt to save the staircase - by Triple M's own Radio Chaser.
"We want to raise some cold hard cash towards Salim's debt, so Sydney's most interesting entrepreneur/ local councillor can get back to what he does best - livin' large," Radio Chaser said.
Astonishingly, the page has already attracted a few donations; if you'd like to throw money into the mix, check out the official GoFundMe here.
And if you'd like to hear Radio Chaser's reasoning for the GoFundMe page, listen to the show weekdays from 3pm on 104.9 Triple M or on the Triple M app.