A Celebrity Botox Doctor Blew His Budget on an LA Megamansion. Now, He’s Facing Bankruptcy.

It is a fall from grace story with all the components of a Hollywood blockbuster, featuring tens of millions of dollars, glamorous real estate and dashed dreams. Its protagonist: a cosmetic dermatologist to the stars, known for his Botox and buttock-enhancement procedures, who tried his luck as a megamansion developer.

The resulting Bel-Air mansion, complete with a DJ booth, a Champagne tasting room and an NFT art gallery, is now slated to hit the auction block after the developer, Alex Khadavi, filed for bankruptcy protection, court records show. In a bankruptcy court hearing in Los Angeles on March 30, Judge Sheri Bluebond indicated that she could soon sign off on the sale of the property, Mr. Khadavi’s largest asset, by auction with a reserve price of $ 50 million. A reserve price is the minimum amount that the owner of an auction item will accept as the winning bid.

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