The money (5x money emojis) goes into my piggy bank”.
Our boy 50 cent aka Curtis Jackson III filled for individual chapter 11 bankruptcy protection in Connecticut on July 13 2015.
According to the document filled with the Connecticut court (Check bottom of Article for document) 50 cent has incurred a debt of $10-50 million and most recently a $5 million judgment in a sex tape case. His legal team shed some light on 50’s current situation “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,” said 50 Cent’s counselor William A. Brewer III in a press release.
The recent string of lawsuits against the rapper seems to have rapidly depleted this smaller-than-expected cash stash. Just days ago, a jury ordered 50 Cent to pay $5 million to a woman who sued him over a leaked sex tape, reportedly pushing him over the fiscal edge.
From us here at GSI we think 50 is using this as a tool to avoid paying some of his debts, we will continue to update you as the story evolves.