Are The Drakes Bankrupt And Friendless?

The troubled jeweler and his wife may be heading for skid row

The most shocking news to come out of Tania Drake’s recent arrest was not that her husband Craig had taken out a restraining order on her or that she allegedly pushed a cop who came to serve it or that—according to his own son Craiger—Craig wound up in rehab after the whole ordeal.

No, that all seemed perfectly in line with the predictable outcomes for the jeweler whose trajectory went from partying with celebs, jetting around the world, and throwing grand parties with his much younger Brazilian bride on the terrace of their Rittenhouse penthouse to having his office raided and becoming the subject of multiple lawsuits and tax liens.

This was all just a case of rich people behaving badly … except it seems that the Drakes may no longer be rich.

Consider that Tania spent seven days in jail after her arrest. Bail was set at $5,000, meaning she only needed $500 to get sprung. Instead, she sat in a cell for a week before Craiger came and bailed her out. Rich folks don’t sit behind bars over $500. And where were her friends? Add to this the fact that Tania is being represented by the Public Defenders’ office and that Citibank is taking her to civil court in June over $28,000, and her situation sure does look bleak. An acquaintance of the couple says she heard that Tania is living in a motel and cleaning houses.

As for Craig, he’s staring down the barrel of a near $1 million federal court judgment over some diamonds. Then there are at least $200,000 in Pennsylvania tax liens. Plus, he has his own banking woes with a $30,000 Chase lawsuit working its way through the courts.

Of course, he could just unload his $4.2 million Touraine penthouse on Spruce if he needs capital, right? The site of the aforementioned grand parties. The one he’s lived in for decades. Trouble is, he doesn’t own it, at least not according to a lawsuit filed against him by the building’s management company last year seeking $15,000 in back rent.

Tania is due to appear in court on April 14 on felony aggravated assault charges. Neither Craig nor Tania could be reached for comment.