50 Cent is broke, at least according to his Chapter 11 bankruptcy documents filed Monday. The rapper has filed for bankruptcy just days after a jury ordered him to pay a minimum of $5 million in his sex tape case.
According to Page Six, 50 Cent’s bankruptcy filing claims he has $10 to $50 million in assets and $10 to $50 million in liabilities, and lists his number of creditors between 1 and 49.
50 Cent, whose real name is Curtis Jackson III, filed for Chapter 11 bankruptcy protection just three days after a Manhattan jury awarded Lastonia Leviston $5 million in her lawsuit against the rapper for violation of her civil rights and use of her image without permission. The Florida woman filed suit against Jackson in 2010 after he published a doctored sex tape to his website in 2009, as the Inquisitr previously reported. The video garnered four million views, and according to Leviston, ruined her life and drove her to the brink of suicide.
The rapper did not appear during the trial for testimony or the verdict.
The jury in the case is set to weigh punitive damages this week. The “Get Rich or Die Tryin’ ” rapper was to hand over financial statements Monday in order for the jury to calculate the amount of additional damages Leviston is to receive.
This is not the first time Jackson has filed bankruptcy in what some deem as an attempt to avoid any damages related to his sex tape case, reports Page Six. In late May, the rapper filed for bankruptcy protection for his boxing promotion company, SMS, minutes before the trial was set to begin. In that filing, Jackson claimed his company owed approximately $500,000 that it was unable to pay. At the time, Leviston’s lawyer, Hunter Shkolnik, said the rapper’s stall tactic was “the most egregious case of sandbagging” he had ever seen. The judge in the case insisted that despite the company’s bankruptcy, the civil trial brought by Leviston must go forward.
As TMZ reports, Jackson recently lost another court case in which a jury ordered him to pay $17.2 million to Sleek Audio. Sleek claimed in its suit that the rapper had an agreement to market the company’s headphones, but instead, the company claimed, he stole the headphone design and tried to market it on his own.
50 Cent, who has sold more than 22 million records, was dubbed in May as one of the wealthiest hip-hop artists, with an estimated net worth of $155 million, according to Forbes.
[Image by Jamie McCarthy / Getty Images]