REPORT FROM DIFFERENT WEBSITES SAYS;
NEWS FORM BBC
Rapper 50 Cent has filed for Chapter 11 bankruptcy protection, according to reports in the US.
The
music star, businessman and actor, reported in court papers that he has
assets and debts in the range of $10m to $50m (£6.5m- £32m), according
to the Wall Street Journal.The filing comes days after a jury ruled that he must pay $5m to a woman suing over a sex tape case.
AND NEWS FORM RUP UP.COM
50 Cent is no longer getting money. The rap mogul has filed for bankruptcy, three days after Rick Ross’ baby mama won a $5 million verdict against him.
A jury awarded Lastonia Leviston the judgement after determining that 50 intentionally leaked a sex tape in which she was featured, in order to embarrass his rival Ross.
According to the Chapter 11 bankruptcy filing, obtained by Page Six, Jackson has $10 to $50 million in assets and $10 to $50 million in liabilities. It puts his creditors at between 1 and 49.
UPDATE: 50 Cent’s lawyer has released a statement (via Billboard) confirming that the rap mogul has filed for Chapter 11 bankruptcy in Hartford, Conn.
“The filing allows Mr. Jackson to reorganize his financial affairs, as he addresses various professional liabilities and takes steps to position the future of his various business interests,” says William A. Brewer III, partner at Brewer, Attorneys & Counselors.
50 CENT - FILE FOR BANKRUPTCY
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