50 Cent Files for Bankruptcy
Its a bit suspect that days after 50Cent was ordered to pay $5,000,000 to Rick Ross baby mama after the humiliating sex tape fiasco that took place way back in 2009, the Rapper turned business man has suddenly filed for bankruptcy.
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.
50 Cent's Boxing Promotions Company Files for Bankruptcy
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."
You would recall that 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.