Looks like 50 Cent found how to weasel his way right on out of that $5 Million dollar payout to Livonia Leviston [child’s mother of rapper Rick Ross] — just three days after she won a $5 million jury verdict against him, which 50 was sued over a sex tape scandal.
Or maybe this is just simply a money management issue that he really needs to straighten out, which is the reason for his sudden file? We don’t know. This is all so confusing.
As of today, according to WSJ, 50 filed for chapter 11 bankruptcy protection. Mr. Curtis Jackson reported assets and debts between the ranges of $10 million to $50 million but his liabilities are also between the same range.
Of course, at the point, 50 has to provide proof showing his worth and income — that way the jury can makes a decision to follow-up with the claim.
50’s attorney made a statement on the ‘Power’ honcho’s behalf:
This filing for personal bankruptcy protection permits Mr. Jackson to continue his involvement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganization of his financial affairs,” says William A. Brewer III, partner at Brewer, Attorneys & Counselors and counsel to Mr. Jackson.
SEE ALSO: DAMN HOMIE: 50 CENT ORDERED TO PAY $5M TO LAVONIA LEVISTON IN ONLINE SEX TAPE CASE!
Just this past May, Curtis “50 Cent” Jackson ranked No. 4 on this year’s Forbes Five, as they reported the rapper/entrepreneur at a net worth of $155 million with a source of music, beverages, technology and clothing.
To add more fuel to the fire, 50 also lost a case back in December 2014 to a company called Sleek Audio — where Cent reportedly stole a design and then tried marketing it on his own. He lost out on $17.2 million dollars.
We’ll keep our eyes open for any developing details.
-Stay Fly!