Yahoo News 50 Cent Declares Himself Bankrupt Days After Losing A $5 Million Lawsuit
50 Cent has reportedly filed for Chapter 11 bankruptcy protection just days after losing a $5m (£3.2m) lawsuit.
We really don’t want to do this but - sorry in advance - it sounds like he might be down to his last 50 cent.
Copyright [Splash News]
Sorry, we had to get that out of our system.
50 Cent, real name Curtis Jackson III, filed the papers with the US bankruptcy court in Hartford, Connecticut on Monday, with the Wall Street Journal reporting that he claims his assets are worth between $10-50 million (£6.5m- £32m).
The 40-year-old has allegedly been ordered to show evidence that proves his income and worth.
Copyright [Rex]
In a statement, his attorneys at Brewer, Attorneys and Counselors said filing for bankruptcy “allows Mr Jackson to reorganise his financial affairs, as he addresses various professional liabilities and takes steps to position the future of his various business interests.”
They added: “Mr Jackson’s business interests will continue unaffected in the ordinary course during the pendency of the Chapter 11 case.”
Fiddy himself told Reuters that filing for bankruptcy was a “strategic business move,” and one that would not affect fans.
Copyright [Rex]
50 Cent’s bankruptcy comes just days after he was ordered to pay $5 million in damages to Lastonia Leviston for buying her sex tape and posting it online without her permission.
He also allegedly added his own ‘Pimpin’ Curly’ commentary to the tape, which Lastonia had made with her then-boyfriend. She was said to be ‘horrified’ and ‘humiliated’ after the tape’s release.
The musician acquired the tape from Lastonia’s then-boyfriend in 2008 and posted it in 2009.
Copyright [Getty]
In court, she said: “This was something done to me. I didn’t have a choice. I would never, ever do this to myself.”
50 Cent did not testify at the trial, but during a pre-trial, said that his ‘Pimpin’ Curly’ character was “joking” when he referred to Lastonia as a “porn star.”
