50 Cent as he is popularly referred to has been forced to file for bankruptcy by a court order. This he did at the Connecticut bankruptcy court. He filed a statement of his financials in Connecticut bankruptcy court. 50 Cent claims that his money is ending up paying for his many expenses and lawsuits.
According to CNN Money, he was forced into filing for bankruptcy after two judgments ended up in him paying huge fines. His assets were filed in the range of $10million-$50million while his liabilities are in the same exact range. He is set to pay Lastonia Leviston $7million after he released a sex tape in an effort to embarrass Rick Ross. He is also required to pay Sleek Audio & 18 million after he failed to deliver on a deal to produce headphones.
Apparently filing for bankruptcy doesn’t mean the rapper is broke. This is according to bankruptcy attorney Bayer Wishman &Leota. How true this is will only be proven once 50 Cent file his debt payment plan in t. This is definitely going to reveal the real financial details.
This move is also suspected to be a way for 50 cent to avoid paying the $ 7million dollars he is to pay Rick Ross’s baby mama. It is a little difficult to take this as the truth. 50 cent is a known business venture capitalist. He is one of the wealthiest hip-hop artists. He currently has a TV series Power in its second season.