50 Cent Files For Bankruptcy After $5m Sex Tape Lawsuit


According to a recent court filing, 50 Cent, aka Curtis Jackson, aka the man who once recorded an album called Get Rich Or Die Tryin, has about 50c to his name, and has declared bankruptcy. 
This news comes, perhaps not surprisingly, after a jury ordered him to pay $5 million, plus additional, unspecified damages, to a Florida woman, after posting her sex tape in 2010, as part of a feud with Rick Ross.
On Monday, Jackson was meant to turn over his state and federal tax returns, as well as a net worth statement, so the jury could calculate punitive damages on top of the original $5 million.
Instead of doing that, however, the rapper filed for Chapter 11 bankruptcy, claiming that his assets and liabilities both fall in the range of $10 to $50 million. 
UPDATE: Fiddy, who turned 40 recently, has given a statement about his bankruptcy, telling E! News:
I’m taking the precautions that any other good businessperson would take in this situation. You know when you’re successful and stuff, you become a target. I don’t wanna be a [bullseye]. I don’t want anybody to pick me as the guy that they just come to with astronomical claims and go through all that.

Walt Disney has filed bankruptcy. Donald Trump has filed bankruptcy. It means you’re reorganizing your finances, but it does stop things from moving forward that you don’t want moving forward. I gotta [decent] legal team. You don’t have to worry.

You should have these but, you ain’t got EM ??lol #EFFENVODKA #FRIGO #SMSAUDIO

A photo posted by 50 Cent (@50cent) on

Photo: Ari Preilstein via Getty Images

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