Monday, July 13, 2015
50 Cent Files For Bankruptcy
VIA: 50 Cent has filed for chapter 11 bankruptcy protection on Monday, July 13, according to the Wall Street Journal.
According to court documents filed in the U.S. Bankruptcy in Hartford Connecticut, Curtis Jackson's "debts are primarily consumer debts." The rapper reported assets and liabilities ranging from $10-$50 million.
The filing comes close to two months after 50 Cent's boxing promotions company, SMS Promotions, filed for "relief under chapter 11 of the Bankruptcy code."
On Friday, July 10, a jury ordered 50 Cent to pay $5 million to Lastonia Leviston who claims the rapper acquired a sex tape she made with her boyfriend at the time, which he used in a 2009 13-minute video featuring him as commentator, Pimpin' Curly, taunting Leviston and Rick Ross. Leviston and Ross have a daughter together.
Representatives for 50 Cent informed Billboard they would share more information momentarily.