Jeff Daly / Retna Ltd. 1 / 10
Jeff Daly / Retna Ltd. 1 / 10

Pamela Anderson has silenced rumors she's facing financial ruin -- by boasting about her growing property portfolio.

The former "Baywatch" star has been dogged with reports she's facing bankruptcy after allegations emerged earlier this year that she owes $1 million in unpaid taxes and construction bills.

Anderson moved into a trailer while her property in Malibu, California was renovated and extended, but she was later hit with a series of lawsuits from bosses of five building firms, who claim she has not paid them for the work.

But the star insists she's not struggling financially: "That's all garbage. I have a beautiful home in Canada, nine little cabins on the dock that I'm building and a store in the front. That's going to be kind of my sanctuary. I think eventually I'll be out of L.A. and I'll be living more on Vancouver Island. And Malibu, I can't get away from Malibu... I'm all over the place."

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Photos: Pamela Anderson