Monday, July 13, 2015

50 Cent files for bankruptcy on day of financial testimony in sex tape suit

According to the NY Daily News he's worth an estimated $150 million, but 50 Cent says he doesn't have two pennies to rub together.  Lawyers for the "Get Rich or Die Tryin'" star filed for personal bankruptcy on Monday — the same day he was called to testify about his finances in a lawsuit brought by a woman whose sex tape he posted online.  The filing in Connecticut Bankruptcy Court says he has $10-$50 million in assets, and $10-$50 million in debt — a figure that's likely to grow quickly.  A jury awarded Lastonia Leviston $5 million in damages for emotional distress and violation of her civil rights last week, and is set to weigh punitive damages against the rapper this week.  Fitty, whose real name is Curtis Jackson, has said he was told that Leviston was "cool" with him posting the video, but acknowledged he didn't seek her permission to do so.  He used the video to mock rival rapper Rick Ross, who fathered a child with Leviston. Leviston's lawyer said he also used the tape to drive up traffic on his website.  The rapper has tried to cry poverty in the case before, saying his previous lawyers were too expensive and that he was going broke - despite his successful rap and movie careers, and numerous lucrative endorsement deals. He famously cleared over $100 million when his stake in Vitamin Water was bought out by Coca Cola a few years ago.

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