Rapper 50 Cent Files For Bankruptcy After Losing Sex Tape Case

Posted: Jul 13 2015, 4:03pm CDT | by , Updated: Jul 13 2015, 4:05pm CDT, in News | Latest Celebrity News


Rapper 50 Cent Files for Bankruptcy After losing Sex Tape Case
Photo Credit: Getty Images

The rapper was ordered to pay $5 million to the woman who sued him over sex tape case few days ago. His attorney filed a personal bankruptcy case on Monday, claiming his client's assets and debts are somewhere between $10 to $50 million

Rapper 50 Cent is broken. 

This is what the personal bankruptcy case, filed by the attorney of 39-year old entertainer and businessman in the Connecticut Court indicates. According to the case, 50 Cent, whose real name is Curtis James Jackson III, has assets and debts in the range of $10 to $50 million.

The filing was made just few days after the rapper was ordered by the jury to pay $5 million to the woman who sued him over sex tape case.

William A. Brewer III, the attorney of the rapper said after the filing. “Mr. Jackson’s business interest will continue unaffected in the ordinary course during the pendency of the case.”

“This filing for personal bankruptcy protection permits Mr. Jackson to continue his involvement with various business interests and continue his work as entertainer.”

The latest case steamed from a 13 minutes video of a Florida-based woman Lastonia Leviston which she made with her boyfriend in 2008. The rapper bought the tape from her boyfriend a year later, added his humiliating and degrading commentary to it and posted it online without her permission.

Leviston once dated rapper Rick Ross, the rival of 50 Cent. And publishing the video was considered a way to tease his old rival Rick Ross.

The 36-year old Leviston filed a lawsuit against “Get Rich or Die Tryin” singer in 2010, claiming the tape destroyed her life and pushed her to the verge of suicide. She sued him for violating the civil rights by publishing the video and inflicting emotional harm and distress. The video went viral and watched by a millions of people.

 On Friday, the court ordered him to pay $5 million to the plaintiff and come up with a net worth statement so that jury could calculate the further punitive damages in the case. And that is what, the 50 Cent’s legal team handed over to the jury.

The Grammy award-winning rapper, who has sold more than 30 million albums words, is involved in a number of business ventures including clothes, beverages and mining and his net worth is at $155 million, according to a report by Forbes.

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Hira Bashir covers daily affairs around the world.




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