From Wikipedia:
I Love Money 3 would have been a follow up to the previous seasons of the show. The contestants were to be selected from other VH1 reality shows such as Rock of Love, Real Chance of Love, Daisy of Love, For the Love of Ray J, as well as Megan Wants a Millionaire. Production began in late June 2009 & wrapped early August 2009, with Craig J. Jackson returning to host. Reportedly, I Love Money 3 was set to air in January 2010.[5] In August 2009, VH1 postponed any showings of season three due to castmember Ryan Jenkins' possible involvement in the murder of model Jasmine Fiore.[6] It was reported that Ryan Jenkins won I Love Money 3 and went to the 51 Minds office to request an early cut of the $250,000 check just days after Jasmine's death, but was denied.[7] On August 20, 2009, Ryan Jenkins was charged with the murder of Jasmine Fiore. Three days later, the body of Jenkins was found in Hope, British Columbia, with Jenkins reportedly hanging himself in a motel. The day prior, Megan Wants a Millionaire was cancelled.[8][9] On August 24, 2009, VH1 announced on its website that season three of I Love Money would not air.[10]
However...
It has been rumored that there will be a 4th season of the show, due to a statement from Rock Of Love's Brittanya O'Campo saying that she "will appear on the fourth season of I Love Money"[11], but due to the controversy of Season 3, it cannot be denied, nor confirmed.