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Thread: 50 Cent Files for Bankruptcy

  1. #16
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    He's sold 22 million records and now he owes $22 million in damages for things non-music related? Weird coincidence.
    "You'll have to speak up, I'm wearing a towel."

  2. #17
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    50 Cent arrives in London for O2 concert as it's revealed he owes $28 million

    50 Cent arrives in London for O2 concert as it's revealed he owes $28 million

    The Independent
    Jennifer Ruby 56 mins ago


    © Provided by Independent Print Limited In the capital: 50 Cent has arrived in London ahead of his show at the O2 (Picture: Jamie McCarthy/Getty Images)


    50 Cent has arrived in London ahead of his eagerly-awaited O2 gig, amid reports that he owes creditors $28 million.

    The rapper, who stopped off at the Radio One studios on Friday morning ahead of his concert with G-Unit, filed for bankruptcy earlier this week.

    In new documents obtained by TMZ, it has been revealed that the hip hop star currently owes money to organisations including American Express, Bentley and his own grandfather.

    A federal Bankruptcy Court filing on Thursday showed that the star - real name Curtis James Jackson III - owes a total of $28 million.

    The biggest creditor is headphones company Sleek Audio, to whom 50 Cent reportedly owes $18,428,257, after losing a lawsuit saying that he copied their designs.

    The star filed papers at the US Bankruptcy Court in Hartford, Connecticut, on Monday, with reported assets and debts in the range of $10 million to $50 million.

    It came after a jury ordered the star to pay $5 million to Lastonia Leviston, whose sex tape he allegedly 'leaked' and posted online without her permission to embarrass his rap rival Rick Ross.

    Speaking about it on Conan on Wednesday, 50 Cent said: "Yeah, I need protection."

    He added: "You get a bullseye painted on your back when you’re successful, and it’s public, you become the ideal person for lawsuits."

  3. #18
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    This is starting to get interesting. I had thought this was only a ruse by him to stave off paying for the lawsuits. It appears Fiddy is screwing around others - with deep pockets to go after him. I was not aware that he was hawking/copying headphones these days.
    I still don't understand the big deal about Beats headphones. It would seem that there is no end to the amount of money that people will spend to give others the idea that they are hip.

  4. #19
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    So rather then making a slightly lower percentage point with Sleek headphones, 50 rips off their design and goes to a rival company? There's no way he was going to earn more than an extra $.10 per unit sold with the rival headphone company, but because he got greedy he's now in the hole for close to $20 million dollars. Smart.
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  5. #20
    Elite Member stef's Avatar
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    A Bankruptcy Judge Isn’t Happy That 50 Cent Keeps Instagramming Pictures Of Money
    February 22, 2016 / Posted by: Allison
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    It’s been seven months since 50 Cent tried to weasel his way out of cutting a $7 million check for that sex tape lawsuit by declaring that his bank account is about as empty as the space between his butt cheeks after Vivica Fox packed up her tongue and split. And ever since then, he’s been using his Instagram account to prove just how “bankrupt” he is. Which is to say, not fucking very.

    50 tackiness knows no bounds: he’s Instagrammed pictures of a mini-fridge filled with money, garbage cans full of cash, and, as you can see above, spelling out the word “broke” in $100 bills (never has Benjamin Franklin’s “I can’t with youface been more appropriate). Well, it looks like 50’s days of money selfies might finally be over. According to CNN Money (via NYDN), a judge has started side-eyeing all that Instagram bragging and wants 50 to start explaining where his broke ass is getting all that money from.

    During a hearing in Connecticut last Thursday, Judge Ann Nevins said 50’s pictures showed a “lack of transparency” and was concerned that they might cause allegations of nondisclosure. She added that the process of bankruptcy needs to be transparent to inspire confidence in the process of declaring you’re broke, especially when the process becomes public (i.e. taking your lies to Instagram). Basically, Judge Ann pulled an “I got your number, hussy” on 50 Cent.

    Not surprisingly, if you ask 2 Quarters’ lawyers about his financial situation, they maintain that he’s totally not lying about his busted bank balance. As of January, 50 reportedly owes almost $28.5 million to his creditors. Ugh, I’m so torn. On the one hand, my brain is telling me that 50 Cent is probably lying about being broke. On the other hand, my eyes are looking at that cheap flea market floor runner and thinking he might be telling the truth.



    Pic: Instagram
    Tags: 50 Cent, Take Your Broke Ass Home

    Dlisted | A Bankruptcy Judge Isn’t Happy That 50 Cent Keeps Instagramming Pictures Of Money
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  6. #21
    Elite Member rollo's Avatar
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    He's 40 years old and still laying his money out?
    BITTER and panic like this.
    I have some famous friends and I have mostly not famous friends.

  7. #22
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    50 Cent appears in bankruptcy court to explain Instagram photos | Daily Mail Online

    50 Cent appears in bankruptcy court to explain Instagram photos of him laying in $100 bills (but he claims they're fake)

    • Other pictures showed the rapper spelling 'Broke' with the wads of cash and piling them up in his refrigerator
    • Judge Ann Nevins demanded he appear in court in Hartford to explain them but made no ruling in the case Wednesday
    • 50 Cent has declared the bills were merely prop money meant to help him maintain his brand

    By James Wilkinson and Ollie Gillman For Dailymail.com
    Published: 14:37 EST, 9 March 2016 | Updated: 20:14 EST, 9 March 2016

    Rapper 50 Cent appeared in a Connecticut courtroom on Wednesday afternoon to explain photos of him with piles of cash to the judge in his bankruptcy case.

    The photos include snaps showing Jackson sitting next to piles of money arranged to spell 'broke', him in a bed with wads of cash and stacks of dough next to Effen Vodka, which he sponsors, in his refrigerator.

    There is also a video that shows Jackson pretending to wake up in bed, only to discover his legs are buried under a pile of notes.

    Judge Ann Nevins didn't rule Wednesday. Jackson's lawyers and attorneys for his creditors argued against appointing an examiner.

    Jackson's lawyers repeated that the bundles of cash in the rapper's Instagram photos were fake.


    +7 Rapper 50 Cent appeared in a Connecticut courtroom on Wednesday afternoon to explain photos of him with piles of cash to the judge in his bankruptcy case


    +7 Judge Ann Nevins ordered the rapper to appear in US Bankruptcy Court in Hartford

    Nevins had ordered the rapper, whose name is Curtis Jackson III, to appear in US Bankruptcy Court in Hartford.

    Nevins said last month that several photos posted on Instagram raised concerns that Jackson wasn't being truthful about his finances.

    'I'm concerned about allegations of nondisclosure and a lack of transparency in the case,' Judge Nevins said.

    But in a written declaration filed on Tuesday, 50 Cent declared that the money was prop money used for photo shoots, and that he was just trying to maintain his 'brand'.

    'Hip-hop culture is widely recognized as aspirational in nature,' the declaration read.

    'The standard by which artists and fans engage is commonly tied to money, jewelry, products and advertising over social media.

    'Products and brands are now marketed through social media as an effective way to engage with consumers.

    'Just because I am sensitive to the needs of maintaining my brand does not mean that I am hiding assets or that I have lied on my filings in this Bankruptcy Case, neither of which is true.'


    +7 Jackson filed for bankruptcy in July 2015, but in Instagram photos posted in October he appeared with stacks of what look like dollar bills


    +7 In a written declaration filed on Tuesday, 50 Cent declared that the money was prop money used for photo shoots, and that he was just trying to maintain his 'brand'

    The US trustee's office is asking Nevins to appoint an examiner to review Jackson's assets.
    Jackson's lawyers say in court documents that the bankruptcy filing was the result of several factors.

    They include a $17million verdict against him in a legal dispute over headphone products and a $7million verdict against him in a lawsuit filed by a woman who said he posted her sex tape online without her permission.

    The $17million verdict in 2014 involved what Jackson's lawyers describe as a failed business venture with Sleek Audio to develop headphone products to be marketed under the 50 Cent name.

    His lawyers say Sleek failed to meet a 2011 deadline to have the headphones ready for production, and the deal was terminated.

    Sleek later sued Jackson and won after he formed a new company, SMS Audio, to develop new headphones, saying SMS stole Sleek's design.

    Jackson is appealing the $17million verdict and suing his lawyers in the case for $75million.
    In the sex tape case, a New York jury awarded $7million last year to Lastonia Leviston, of Pembroke Pines, Florida, after determining Jackson did not have her permission when he posted online a sexually explicit video she made with her boyfriend.

    Jackson disputes Leviston's claims and is appealing the award.


    +7 One picture showed a fridge stuffed with 'money' as well as an Effen Vodka bottle, which he is a brand partner for

    It was Leviston who first flagged the Instagram images, as she has not been able to collect the money after Jackson claimed he was broke.

    The rapper skyrocketed to fame with the 2003 release of his debut album Get Rich or Die Tryin', which went on to sell more than eight million copies.

    Jackson has sold more than 22 million albums, appeared in films and TV shows and engaged in a variety of businesses including artist management, clothing, fragrances, video games and health drinks.

    New financial documents filed recently show Jackson has nearly $19.9million in assets including his mansion in Farmington, Connecticut.

    They also revealed he's trying to sell and $10.6million in bank, brokerage and other financial accounts. The documents list $36million in liabilities.

    The proceedings have been ongoing since July last year.

    In an appearance on Conan in July of last year, 50 Cent told host Conan O'Brien that he had filed for bankruptcy to protect his finances.

    'Yeah, I need protection,' he said. 'You get a bull's-eye painted on your back when you're successful, and it's public. You become the ideal person for lawsuits.'

    'So this is a way to protect yourself from lawsuits,' O'Brien replied.

    'It is,' the rapper said. 'Re-organize things.'


    +7 Zero cents: 50 Cent, whose real name is Curtis James Jackson III (pictured taking the oath in New York in July 2015 during a sex tape lawsuit), says that he used the fake money to promote his 'brand'

    Read more:


    Read more: 50 Cent appears in bankruptcy court to explain Instagram photos | Daily Mail Online
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    Last edited by dougie; March 11th, 2016 at 06:36 PM.

  8. #23
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    He's lucky that there isn't an ugly tax.
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  9. #24
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    Moron.

  10. #25
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    Quote Originally Posted by rollo View Post
    He's 40 years old and still laying his money out?
    Then he rolls around in it.
    RELIGION: Treat it like it's your genitalia. Don't show it off in public, and don't shove it down your children's throats.

  11. #26
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    He's so classy, a bundle of bills coming out his zipper.
    How old is he? 12?

  12. #27
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  13. #28
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    He amuses me, I can't help but like the crazy bastard. Loved his show too, 'Power' was all kinds of awesome.
    panic likes this.
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  14. #29
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    Meh, he's pathetic.
    Kittylady likes this.
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  15. #30
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    All that supposed money, and he still has Kraft cheese in his fridge?
    VeraGemini likes this.

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