50 Cent Ordered Back to Bankruptcy Court for Flaunting Money on Instagram

Started by Worm, Feb 20, 2016, in Music Add to Reading List

  1. Worm
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    Worm Big Perm Big Worm

    Feb 20, 2016
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    CREDIT: Instagram/@50Cent
    50 Cent is taking another unwanted trip to bankruptcy court to explain the endless bundles of cash he’s posted on Instagram after he was ordered to pay $7 million in a sex tape case to Lastonia Leviston, the ex of Rick Ross.

    The Wall Street Journal reports it was Leviston who brought the photos to Judge Ann Nevins’ attention during a hearing on Thursday (Feb. 18). Speaking with the rapper’s lawyers, Nevins said she is concerned about the sincerity of the rapper’s money woes. “There’s a purpose of having a bankruptcy process be transparent, and part of that purpose is to inspire confidence in the process,” she said, adding that bankruptcy is for “honest, but unfortunate” people who are given the right to start over.

    Not long after the rapper made the notion for Chapter 11 protected bankruptcy, he was seen on IG with money in his fridge, bedroom and laying on the floor spelling out the words, “broke.”



    Broke can take on different meanings for those of the rich and famous, but the rapper does owe his mortgage lender and a partner in his failed headphone deal a reported total of $18 million. The parties have advised the court to have a third party manage the rapper’s money until he is able to pay off his reported $30 million debt to creditors.

    READ 50 Cent’s Assets Now Reportedly Total Just $16 Million

    His lawyers have clapped back by explaining his social media space is simply to promote his brand and doesn’t hold any leverage in the claim. In other words, “it’s just entertainment folks.”

    “By including pictures from [Mr. Jackson’s] social media accounts and implying that [he] is hiding assets…the [three creditors] intentionally ignore that [Mr. Jackson] is in the entertainment and promotion business and must maintain his brand and image (or those of the products he is promoting),” his lawyers said.

    A definitive date for 50 to head to court hasn’t been revealed.



    @50CentSXN
     
    Last edited: Feb 20, 2016
    Mar 29, 2024
  2. Zep
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    Zep Certified Feminist

    Feb 20, 2016
    50 a savage fr
     
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  3. Nick
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    Nick (;

    Feb 20, 2016
    He be ight
     
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  4. Flacko
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    Flacko Too Blessed To Be Humble

    Feb 20, 2016
    lol
     
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  5. 831's Finest
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    831's Finest West Side Gentleman

    Feb 20, 2016
    If 50 was really concerned he wouldn't have done this lol he's far from broke but he's about to spend more money on lawyers
     
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  6. xxxxxxxxxxxxxxxxxxxxxxx
    Posts: 19,389
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    Feb 20, 2016
    lmfao whatta f---ing idiot
     
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  7. Empire State Of Mind
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    Empire State Of Mind Revival Is Trash

    Feb 20, 2016
    :useyourhead: d--- guess he's not that bright
     
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  8. SHUDEYE
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    SHUDEYE Kerser is the sickest.

    Feb 20, 2016
    We all know what he's doing he'll still probably be fine.
     
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  9. boyz n the suburbs
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    boyz n the suburbs In my city, I'm a young God

    Feb 20, 2016
    He needs to clean his fridge. It's messy af.
     
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  10. SHUDEYE
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    SHUDEYE Kerser is the sickest.

    Feb 20, 2016
    I mean he probably shouldn't be posting all those pics but he's just bein 50
     
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  11. BIGFOOT
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    BIGFOOT More than a myth!

    Feb 21, 2016
    50 the only n----- that would posts pictures of stacks and claim to not have much money lmao
     
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