It’s True! 50 Cent Files Bankruptcy!

Posted on July 13th, 2015 at 11:09 am
True 50 Cent Files Bankruptcy50 Cent Files Bankruptcy! 50 Cent has just declared bankruptcy after losing a multi-million dollar lawsuit. Curtis James Jackson III filed for chapter 11 bankruptcy protection Monday. Court paperwork shows the rapper reported assets and debts each in the range of $10 million to $50 million.

It's True -- 50 Cent Files Bankruptcy!

The Associated Press reports that the filing comes just three day after the "Candy Shop" hit maker paid $5 million to Rick Ross' baby mama, Lavonia Leviston, who sued over a sex tape.

In order for the jury to determine punitive damages, 50 has now been ordered to produce proof of income to the court.  This isnt the first time the rapper has been in financial trouble. He recently lost a court case in which he was slammed with a $17 million judgement after allegedly ripping off a headphone design.