50 Cent has been flashing stacks of cash on Instagram. For the past few months, the New York City rapper and entrepreneur has been posting pictures of himself surrounded by stacks of money. This normally wouldn’t be a problem, except that 50 Cent has also been claiming that he’s broke. After losing a lawsuit to Rick Ross’ baby mama Lastonia Leviston, 50 immediately filed for bankruptcy. He was hauled back into bankruptcy court to explain himself as far as the constant money pictures were concerned. 50 Cent claimed the money shots are all for show, and that the huge piles of money are actually counterfeit.
The good news for 50 Cent is that his bankruptcy troubles will soon be over. The rap mogul was able to strike a deal with his creditors, according to the New York Daily News. 50 Cent almost ran into a roadblock when U.S. Bankruptcy Court Judge Ann Nevins questioned his recent social media activity, which included several pictures over recent months that involved huge stacks of cash.
According to reports, U.S. Bankruptcy Trustee for Connecticut Holley Claiborn called attention to 50 Cent’s recent Instagram posts containing stacks of cash. She claimed that the photos were concerning and that maybe a further look should be taken into 50 Cent’s finances. The rapper turned business mogul reps several brands including Effen Vodka and SMS Audio. He often talks about both brands on social media, even in the same posts where piles of money were put on display.
50 Cent may have done the most “Wanksta” thing ever when he confessed in bankruptcy court that he was posing with fake bills. It seems like the rapper was flashing his money while laughing at Lastonia Leviston, who won a $7 million judgment against him for posting her private sex tape online in order to promote his own website. Now, Leviston is the one laughing because part of 50’s bankruptcy deal was to pay Rick Ross’ baby mama $6 million and call it a done deal. The bankruptcy settlement also stipulates that 50 Cent can’t appeal the ruling against him.
The ruling still has to be approved by a federal judge, and if that happens then 50 Cent, whose real name is Curtis Jackson, will only have to pay his creditors back a fraction of what he owes them. The news of 50 Cent’s settlement came just two and a half hours after showing up to court to answer questions about the origin of the money in many of 50 Cent’s Instagram pictures. One of them recently featured the rapper surrounded by enough stacks to spell out the word “broke.”
The Get Rich Or Die Trying star is really trying to make it look like he’s still trying in court. It just seems like posing with fake stacks of 100-dollar bills is…well, fake. Celebrity Net Worth has 50 Cent listed as being worth about $16 million, so he’s certainly not broke. He shouldn’t have any trouble paying back Leviston, or any of his other creditors, under this new deal.
As far as the fake bills, they look very, very real. So now that 50 Cent has admitted outright that he’s posing with fake money, does that mean he could be in trouble for counterfeiting instead? It sure seems like if the feds wanted to make a case, that certainly could pose a problem for the rapper behind Power on Starz.
The admission might also pose a problem for 50 Cent fans who look up to the rapper as a symbol of success. “As a hip-hop artist and entertainer, it is imperative that I continue to project aspirational goals of success in order to preserve my brand and those I represent,” the rapper said in an affidavit filed in federal bankruptcy court Tuesday. “My social media posts are a vehicle to perpetuate the demand for my music and entertainment services.” Is there anything more “Wanksta” than posing on Instagram with cash that isn’t even real?
[Photo by Steve Miller/Getty Images]