After doing the media rounds promoting business venture EFFN Vodka and television series Power, Rapper turned Mogul Curtis Jackson aka 50 CENT is back in the news headline. Just days after being ordered to pay $5 million in a lawsuit over the leaked sex tape of Rick Ross’ baby mother, 50 Cent has filed for chapter 11 bankruptcy.
According to an article titled “Rapper 50 Cent Files For Bankruptcy.” posted on The Wall Street Journals Website at 10.44am on July 13th 2015.
“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.”
This is 50.com is yet to comment on the above situation.
