50 Cent hasn’t made the smartest moves since claiming that he’s bankrupt, like saying that he still manages to spend $108,000 per month on expenses. It doesn’t help that there is skepticism surrounding his case as people think it is all a set-up to get out of paying damages to the woman whose sex tape with Rick Ross he leaked.
Lastonia Leviston won $7 million in the sex-tape dispute but hasn’t been able to collect that money since 50 filed for bankruptcy last summer.
Of course he could perhaps get away with it if he kept his head down and didn’t do things like post Instagram photos of himself with a shit tonne of money — but he just couldn’t resist. Yes, this week he uploaded several pictures including one of him lying on a bed of money and another where he spelled out ‘broke’ in wads of cash. What an utter dumbass.
The courts obviously caught wind and have called him in to explain himself. Judge Nevens said in a hearing in Connecticut:
I’m concerned about allegations of nondisclosure and a lack of transparency in the case.
There’s a purpose of having a bankruptcy process be transparent, and part of that purpose is to inspire confidence in the process.
50’s lawyers said the photos were included in court filings to “disingenuously smear him”:
By including pictures from [Mr. Jackson’s] social media accounts and implying that [he] is hiding assets…the [three creditors] intentionally ignore that [Mr. Jackson] is in the entertainment and promotion business and must maintain his brand and image (or those of the products he is promoting).
Love that argument – 50’s just trying to maintain his multi-millionaire rapper image, that’s all!
It’s unclear what the outcome is yet, but regardless, 50 Cent (real name Curtis James Jackson III) has really shot himself in the foot here.
He should team up with Kanye West (also apparently in massive debt) and devise some sort of a plan — although that might involve a collaboration album, something I don’t think anyone in the world would want to happen. Two wrongs don’t make a right.