50 Cent Files for Bankruptcy

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Thump

Well-Known Member
I don't know where all the Vitamin Water money went ($500 million) but he is in dire straights now.

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Curtis James Jackson III, the rapper better known as 50 Cent, filed for chapter 11 bankruptcy protection Monday.

In court papers filed in the U.S. Bankruptcy Court in Hartford, Conn., Mr. Jackson reported assets and debts each in the range of $10 million to $50 million.

The attorney listed on the bankruptcy petition couldn’t immediately be reached for comment Monday.

The filing comes days after a jury directed Mr. Jackson to pay $5 million to a woman who sued over a sex tape, the Associated Press reported.
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http://blogs.wsj.com/bankruptcy/2015/07/13/rapper-50-cent-files-for-bankruptcy/
 
Shuffle what funds around? A judge ordered him to produce docs and info pertaining to his financial affairs, including a personal net worth statement and tax returns for the past five years.
 
SilverSmith said:
Shuffle what funds around? A judge ordered him to produce docs and info pertaining to his financial affairs, including a personal net worth statement and tax returns for the past five years.
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Not saying you're wrong. I'm saying I wouldn't put it past 50 to produce fake documents and, or, to otherwise hide funds to avoid having to pay that girl anything.

But, in all due fairness, it's all speculation on my part.
 
I don't understand why should I or anyone should care about this. From what I know a bankruptcy tends to allow you to keep a certain portion of your money and dissolves any debt. He will still be richer than all of us if that is your worry.:smt012
 
samson1701 said:
Not saying you're wrong. I'm saying I wouldn't put it past 50 to produce fake documents and, or, to otherwise hide funds to avoid having to pay that girl anything.

But, in all due fairness, it's all speculation on my part.
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Quite true. Curtis Jackson might very well be "broke", but his wholly-owned subsidiary 50 Cent, Inc. (not saying he owns one for certain, but hypothetically) might be flush with capital, and could pay him millions the minute this judgment against him is resolved.
 
I wonder if that half a billion dollars is just paper wealth rather than cash wealth? Liquid talks,Paper walks. He must had gotten a bad money manager.
 
orejon4 said:
Quite true. Curtis Jackson might very well be "broke", but his wholly-owned subsidiary 50 Cent, Inc. (not saying he owns one for certain, but hypothetically) might be flush with capital, and could pay him millions the minute this judgment against him is resolved.
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Exactly.
Mr. Jackson is playing an all too familiar shell game playing hide and seek with his millions.

I'm surprised the media sucks the whole '50 is broke' meme without doing a little investigating to explain to the public what's really going on.
 
andreboba said:
Exactly.
Mr. Jackson is playing an all too familiar shell game playing hide and seek with his millions.

I'm surprised the media sucks the whole '50 is broke' meme without doing a little investigating to explain to the public what's really going on.
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If he keeps being coy, he runs the risk of the jury getting as punitive as possible with him.

goodlove said:
Hes a scumbag. Hes been doing slick stuff for a long time
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"I'm sorry if you feel like I hurt you." Is he joking? Way to delegitimize your victim's feelings.
 
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