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RAPPER 50 CENT has filed for federal bankruptcy protection, days after a jury ordered him to pay $5 million (€4.5 million) in an invasion-of-privacy lawsuit.
Curtis Jackson III (40) filed for Chapter 11 bankruptcy protection in US Bankruptcy Court in Hartford, Connecticut. He owns a 50,000 square foot mansion in the area.
The filing lists both the assets and liabilities for the Get Rich or Die Tryin’ artist as between $10 million and $50 million and indicates his debts are primarily consumer and not business related.
The filing comes after a New York jury ordered Jackson to pay $5 million to a woman who said he acquired a video she made with her boyfriend, added himself as a crude commentator and posted it online without her permission.
The jury this week was scheduled to deliberate on possible further punitive damages in Lastonia Leviston’s invasion-of-privacy lawsuit against Jackson, but the filing may put the trial on hold. Jackson did not appear as scheduled today to testify about his finances because of the bankruptcy filing, his lawyer said.
“Mr. Jackson’s business interests will continue unaffected in the ordinary course during the pendency of the Chapter 11 case,” attorney William A Brewer III said in a statement.
“This filing for personal bankruptcy protection permits Mr Jackson to continue his involvement with various business interests and continue his work as an entertainer.”
Rick Ross
The lawsuit stems from a 13-minute video that appeared online in 2009, featuring a wig-wearing 50 Cent as a narrator dubbed Pimpin’ Curly.
He makes explicit remarks about the images and taunts rap rival Rick Ross, who isn’t in the video but had previously had a daughter with Leviston. At the time the video surfaced, Ross and 50 Cent were trading barbs via video, lyrics and interviews.
Jackson got the tape from the man in it, Leviston’s boyfriend at the time. The rapper said that he didn’t actually post the video but that Leviston’s then-boyfriend said she wouldn’t mind if he did.
The internet has reacted to the news with many, inevitable puns:
50 Cent burst onto the rap scene with 2003′s Get Rich or Die Tryin and its lead single In Da Club.
Jackson is an admitted former crack dealer and has been shot nine times.
He built an empire beyond entertainment, investing in Vitamin Water and expanding his business interests into clothing and audio equipment.
Jackson has gone on to become an actor whose credits include the Starz network action series Power and the upcoming boxing movie Southpaw.
He also was named by Forbes in May as one of hip-hop’s five wealthiest artists for 2015.
He bought his 17-acre home in Connecticut from boxer Mike Tyson in 2003 for $4.1 million (€3.7 million). The house includes 19 bedrooms, more than two dozen bathrooms, a gym, billiard rooms, racquetball courts and a disco complete with stripper poles.
It had been listed for sale in 2009 for $10.9 million (€9.9 million), but is no longer on the market.
Additional reporting by Órla Ryan
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I find it hard to believe he’s bankrupt, he’s isnt stupid.. Fair enough he done something stupid bud is day he’s got a fair few Bob somewhere
Apparently some blonde Irish woman from New Hampshire has turned up claiming to be his wife and he transferred everything to her.
He is not bankrupt. One of his companies went bankrupt. This doesn’t affect his personal fortune. The man is still filthy rich.
@OneTrueVoice. …oh very good. ….does this mean he’s dunne with showbiz now…??
Best hang up his mofo pimp boots so.
Get rich or die tryin…..or go bankrupt
Such a schoolboy error.
Golden Rule of Showbiz: Even if it seems like a good idea at the time, don’t do voiceovers on pornographic home movies when you don’t have written permission from the participants.
Now ya tell me! Aw shite
Here, we call that either “Doing a Yates”, or “Filan for bankruptcy”.
I don’t get this story- it makes no cents
budget a few years back…I was at a customer services desk in Dunnes, and a woman ordered 10 boxes of fags..she turned around to the lady behind her and said she was buying them because the government had just announced a 50% increase, so all of a sudden there was a rush on the desk, and the local newsagents. All the while it was a 50 cent increase.
I thought he was called 50 percent
2 dozen bathrooms?!
He may not have a dollar to his name, but at least he has 50 Cent.
The article mentions Rick Ross, a former corrections officer turned gangster rapper who stole the name of “freeway” Rick Ross a former CIA drug dealer turned activist. If you aren’t aware of Rick Ross and how he was at the centre of the crack epidemic you should really take the time to read about.
Rick Ross also burgers kings biggest customer
He only filed for bankruptcy because he didn’t want to give this woman the money she was owed, he posted a video of her and her boyfriend and commented over it, what kind of idiot does that? He must be wired completely wrong, if he doesn’t cough up someone should find a video similar and critique what? he’s doing wrong in it and make it viral and see how he likes it. I don’t think he’d ever do it again
Will he still be ‘in da club’ if we need him?
Neither do I
I’m still sexy tho
Hes in “Power” TV series at the moment. Not a bad show either if you haven’t seen it yet.
I need dollar dollar
Dollar is what I need
From In Da Club to doorman in no time at all. I pity poor fiddy.
Hahahahahahahahahahah
he’s only worth 50 cent now
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