50 Cent Files for Bankruptcy? - @forevermeah

Apparently, rapper 50 Cent filed for bankruptcy protection on Monday (7/13), halting a dispute over a sex tape with Rick Ross baby-mother.

Curtis James Jackson III, aka 50 Cent, filed for chapter 11 protection in the U.S. Bankruptcy Court in Hartford, Conn., the same day he was supposed to appear in a New York state court to determine whether he owes punitive damages in a 2010 lawsuit filed by Lastonia Leviston, rapper Rick Ross’s ex-girlfriend, court records show.

Jurors said last week that Mr. Jackson should pay $5 million to Ms. Leviston, who said that Mr. Jackson violated her privacy by posting a sex tape of her online. Mr. Jackson’s lawyers dispute the amount of the verdict.

The skeletal, five-page bankruptcy petition didn’t reference the lawsuit. Generally, filing for bankruptcy protection halts lawsuits and collection efforts.

“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 William A. Brewer III, his lawyer, in a statement. Lawyers didn’t explain how he plans to use bankruptcy protection to get a fresh start.

(source)

ForeverMeah says... This was a business move. Checkmate, 50!

For the record Donald Trump has filed for corporate bankruptcy four times, in 1991, 1992, 2004 and 2009. #ijs