50 Cent lashed out at boxer Billy Dib yesterday (February 10) after the latter claimed the rapper owed him about $1 million for a failed promotion deal.

The G-Unit rapper took to Instagram to deny accusations Dib made to The Daily Telegraph that 50 Cent ripped him off.

“The truth is Billy Dib is an ungrateful fighter who was deemed unwatchable by premium networks like Showtime and HBO when I met him,” 50 Cent writes for the caption of a screenshot of the original article. “Floyd was mad at me for signing him in the first place. With a record of 35-1 (21 KOs), Dib must have fought 21 cab drivers in Australia because Evgeny Gradovich with a record of 15-0 (8 KOs) beat the shit out of him, despite taking the fight on a month’s notice. It’s no secret that the level of competition and talent, fighting in America is the highest. The best fighters in the world come here to fight. 8 Months later, I put Dib on the Manny Pacquiao undercard for the rematch with Gradovich. He got knocked the fuck out. I can only set the fight up…I can’t fight for you, punk! I didn’t take a dime of your money. They call me a lot of shit, but never a thief. #EFFENVODKA #FRIGO #SMSAUDIO ANOTHER ? SHIT HEAD”

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According to the article, Dib signed a three-year deal with 50 Cent and his The Money Team Promotions in 2012. The promotions company was a joint venture with Floyd Mayweather.

The company did not last long and in October of that year, the rapper took to Twitter to say that the venture was no more. He continued promoting boxers with his SMS Promotions, which filed for bankruptcy in May.

Dib says that he has since gotten out of his deal with 50 Cent, but the rapper owes him upwards of seven figures. He says that working in the environment 50 Cent created drained his passion for the sport.

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“A lot of people would say ‘Why do you want to get away from 50 Cent, that would be amazing’, but it’s not amazing,” Dib says. “It was very disheartening, sleepless nights, you wake up for phone calls and the guy would never answer his phone, it was possibly the worst career move that I’ve made in my life.”

View the Instagram post of 50 Cent lashing out at Billy Dib for claiming he’s owed $1 million below:

http://instagram.com/p/BBnT2QvML2-/

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For additional 50 Cent coverage, watch the following DX Daily: