50 Cent Sues Sleek Audio For $285,000 Unpaid Loan

50 Cent goes after his former business partner for his wireless headphones, "Sleek by 50."

50 Cent has sued Sleek Audio LLC over an unpaid $285,000 promissory note that he lent to the company in 2010, according to The Miami Herald.

Fif initially partnered with Sleek for his “Sleek by 50” wireless headphones and terminated his partnership with the company in May. He claims that Sleek Audio agreed to make payments on the loan once it reached $750,000 in revenue, an amount that was apparently met in February 2011. After 50 partnered with SMS Audio, Sleek claimed that the initial loan was nullified since he took the idea to a competitor, and “purposely omitted and misstated information during their negotiations with intent of fraud,” according to the suit.

“Sleek would have never borrowed money from [Curtis] Jackson or allowed him to invest in its company had it known that Jackson would ultimately use this tactic (of misusing the money) to steal its design, technology and headphones," said the company in an un-sworn court statement.

50 tried to recoup the money in March 2011 but the company “essentially refused” by making itself unavailable to meet.

In addition to asking for his advance money returned, he is demanding $61,429 in back interest as well as an additional 15 percent for any unpaid debt moving forward. He also requests that Sleek Audio cover any legal fees connected to this issue.

RELATED: 50 Cent Wins Copyright Lawsuit Over "I Get Money"

51 Comments

  • jamesmcdonald

    i love you 50thee please kiss me i wanna do you gay xxx love james xxxxxxx your my syed xxxxxxx

  • ja

    Both these and Beats are over priced and sound like shit

  • Anonymous

    Trying so damn hard to be dre...damn

  • BK

    I love when this Trick ass nigga fail...How the fvck did this bum ass nigga think he was going to go head up with Dr. Dre's beats head phone's. Epic fail!!

  • Anonymous

    who cares if his business moves and music sucks, if you like the music thats cool, 50's tryna feed a billion people what are you doing? and he did exactly what he came in the game to do, stack that money

  • Anonymous

    I think that 50 is just sad because of hes business being fuck'd up.. maybe he should come up with some new ideas that people dont even know that hes in it.. like vitamin water was

  • www.marlosbeats.com

    Company must not be doing that good to be holding back 285K...most companies settle cases for millions...50 + Sleek = going broke?

  • NinjaBoi

    I came here initially to make a comment about the article but then i noticed Ja-Rule's name being brought up several times and I'm wondering you people prove his irrelevancy in Hip-Hop today. I mean honestly no disrespect but think about it the only time Ja-Rule is remembered is when 50 Cent is mentioned.

  • Anonymous

    "50 fed a billion people" With what, happy meals?

  • Anonymous

    Ja Rule fucked 50 up, big time.

  • drop zone

    50 is an overrated businessman. he gets money but his products all fail. that cologne. that video game. his clothing company. his overpriced wireless headsets that sound like shit. his horrible tasting energy drink he pushes on world hunger. 50 is a shameless salesman. his movies all go straight to DVD and make no money. he got fronted 200 mil to make 10 movies and every movie hes done has gone straight to DVD INCLUDING a movie with forest whittaker and robert deniro, which flopped big time BTW. plus his music is trash and he's been on the shelf for years at interscope. it's all coming to an end for 50. the fall isn't far off.

    • OoNo

      Obviously you people don't know DVD sales, if DVD cost 19.99 and it's promoted around the world there are billions of motherfuckkers out there. Just sell a 1,000,000 copies what is that. And do you think blockbuster and Netflix have one copy on deck lol No I don't think so. His SK drink is everywhere so that can't be a flop! And if you travel stop by your airport tech stores and what do you see SMS up front and center with Bose, and Beats stop it with the hate! A black man doing his thing and ya'll hate. But a white man gives you Corn Flakes and ya'll eat that shit up everyday!!

    • Anonymous

      he still got hundreds of millions though so fuck it right

    • Anonymous

      Not to mention Ja Rule killed him.

  • Anonymous

    The Copycat genius that is Curtis Jackson.He accusses Ja rule of makig soft HipHop music with stupid ass J-lo...few years later Curtis makes the same soft HipHop with Olivier &Ciara.result---->EPIC FAIL.He mocks Fat joe and Jadakiss for low album sales,when he gets low album sales he says it bcos the music got leaked online(maybe jadakiss album also got leaked onlne too?)He says people make pop rap music,then he turns around and does ayo-technology and blames the label.Saying interscope wanted a radio friendly single.Hmmmmmmm......maybe other rappers who made pop rap where also told to do so by their label to hv a pop-rap,radio friendly single.result---EPIC FAIL.Jay-Z goes on Oprah--goodlook for him,Curtis quashes his beef with Oprah just to appear on her show.Result--->EPIC FAIL(new day single flopped on the chart even with that exposure.I guess middle class "white women" as curtis rightly described oprah's audience aint feeling him)Dr Dre does the headphones...well u already get the gist by now.... P.S-Whats up with the b-rated movies he released?they never hit the major screens-->the All things fall apart movie,The Guns movie? what happen 2em.Pls all yall 50cent stans hit me up with the movie total gross when u reply to this with ur stupid responses.Fucking idiots

  • thought dog

    Hows that feeding a billion people going 50? Hows the ac in your mansion? Your ferrari still riding ok?

  • poetic assasin

    50 fed a billion people? a whole meal? once? a snack? some chips? a billion?

  • Anonymous

    I remember when 50 and I were fucking Joe buddens bitch, he said he'd have budden replaced if he got crazy about it

  • Anonymous

    Ja Rule pil 2 sold 6 mil.

  • Anonymous

    When an idea aint originally yours or initially ur vision; it becomes hard to run with it successfully.Dr Dre came up with this concept of high-end headphones having had a background as a sound-&-mix engineer and ofcourse a world-class producer.Then everyone from RZA,ludacris,jay-z,Curtis Jackson and so on...copied the idea but havent been half as successful as Dr Dre.Its funny bcos when Dr Dre announced the idea a few years back,yall laughed @Dr Dre saying what kind of concept was that? high-end headphones? yall said he needed a vitamin water deal.Yall said he should stick to the then alcohol he tried to promote.but now it doesnt seem strange to u lot now that he is making millions of $$$$ from it.Bottom line is this-BE ORIGINAL,LET IT BE YOUR VISION THEN U COULD RUN WITH IT SUCCESSFULLY.

  • Anonymous

    "academy award winning actor" I think you have him confused with Denzel Washington.

  • 50 CENT IS THE BEST BUSINESS MAN

    50 fed a billion people, what the hell have u haters done with ur life? 50 saves lives, and u guys hate him for it? Get a life. "It feels good to blow 50 grand, and think nothin of it". 50 is bigger than rap, 50 is an entrepreneur, business man, author, musician, academy award winning actor, and apparently he's too much in everybody's face because you idiots can't keep his name outta ur mouth. 'Get Rich or Die Tryin' is the greatest rap album of all time, don't act like you idiots didn't buy it when it came out. It's okay, they'll be back on the bandwagon when his upcoming album goes diamond again. Fucking haters

  • Anonymous

    If 50 sues Ja Rule, Ja Rule would beat his bitch ass to death

    • Anonymous

      I'm promotin' him, because Ja is a big homie and his songs helped me lift up my spirit whenever I felt down.

    • murdock

      I could care less about ja rule or 50 but you do know that ja rule will never have another hit or be close to as big as he was right??I know your here trying to promote him or your getting paid to do it but for real though hes done stick a fork in him.

  • Anonymous

    Ja Rule's got that gruff voice shit for the motherfuckin' streetz

  • Anonymous

    DMX and Ja Rule should rob 50 cent

  • Anonymous

    Ja Rule's music plays great with sleek audio by 50

  • Anonymous

    Ja Rule beats niggaz to death with slick audio by 5-0

  • Anonymous

    Ja Rule once passed through the block, seen this kid wearin' sleek audio shit by 50, and he took those headphones and beat the kid's bitch ass to death with it

  • Anonymous

    Ja Rule straight caps niggaz son

  • Anonymous

    If Ja rule sued these mothafuckas, he'd win, but he's too real to go suing mothafuckas, he caps them bitchez

  • Anonymous

    who cares......die already........

  • Anonymous

    50 wants everything: more creative control, money, investments, etc. Old news

  • Anonymous

    "50 got millions and millions and millions" This just in... Nobody cares.

  • Anonymous

    50 got millions and millions and millions

  • idntknow

    I think 50 Cent will have to take a L from this as he took there idea and ran it with another company. Reports show on the internet that he was going to make a wireless headphone with sleek but then ran with SMS so I think the court might take it into consideration as the loan was given due to the project and not for any other mater. But the court might overrule that decision and grant 50 the money without interest and court fees.

  • OUCH!

    he may have a "sleek" chance on this o.o

  • HHFAN

    It sounds a bit shady, but if the company didn't have a no compete clause with 50, they probably will have to give back the money.

  • rozay

    the ultimate BAWSE!!!

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