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Tuesday, July 14, 2015

"50 Cent Files for Bankruptcy"

He isn't even worth 50 cents.

Curtis James Jackson III -- who uses the stage name 50 Cent as a rapper -- has spent all the millions he made, is in bankruptcy court trying to weasel out of up to $50 million in loans -- and a $5 million judgment against him on Friday.


From Variety:
“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,” 50 Cent’s attorney, William A. Brewer III, partner at Brewer, Attorneys & Counselors, said in a statement to Variety.
Brewer said 50 Cent’s business ventures will continue unaffected in the ordinary course during the pendency of the chapter 11 case.
The filing comes days after a jury ordered him to pay $5 million to a woman who sued over a sex tape that was posted without her permission, according to the Associated Press, and two months after his boxing promotions company, SMS Promotions, filed for bankruptcy.
50 Cent ain't worth a dime.