Pamela Anderson Denies She Is Broke

Pamela Anderson has denied claims she can't afford to pay for renovations to her Malibu home.

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The former "Baywatch" actress admits she is being sued by five building firms over unpaid bills, but insists she is only withholding payment while she decides if their invoices are "fair."

In a statement released by her management team, the 42-year-old star said: "These reports are crazy and I cannot believe this has become a media issue. It is true that I am in a dispute with some of the contractors working on my home."

"This is because after paying millions of dollars to build the house I continue to get bills from the contractors. My lawyers are reviewing the work done to see if the bills are fair. If they are, they'll be paid. If they aren't, they won't be."

Five contractors who have worked on Pamela's new home have filed legal claims for a combined amount of over $433,000. It had been reported the blonde beauty was unable to pay because she has just $1,445 in available funds.