India, April 17 -- Singer Justin Bieber has been in the limelight over the last few weeks owing to his erratic public appearances. A few days ago he even cut ties with his a clothing brand he co-founded. Now his team has released a statement to People slamming reports that claimed that the singer is drowning in millions of dollars of debt. (Also read: Justin Bieber cuts ties with his own fashion brand, asks fans not to waste their money, leaves supporters worried)

The report added that the singer's team has released a statement on the rumours circulating about his financial stress, which read, "This is just clickbait stupidity based on unnamed - and clearly ill-informed - 'sources,' disappointed that they no longer work with Justin. As J...