50 Cent has filed new documents in his bankruptcy case that lays out a plan to pay his creditors $23 million over a period of five years.
TMZ says that the plan is awaiting review from a judge. 50 Cent is reportedly offering $17.3 million to Sleek Audio and Lastonia Leviston has settled for $6 million. She was awarded $7 million after she sued the G-Unit general for posting a sex tape of her.
In a previous attempt to reach a settlement, 50 Cent blasted the creditors for their plan to put him in “indentured servitude.”
50 Cent filed for bankruptcy in July.
(This article was first published March 10, 2016 and is as follows.)
50 Cent is potentially close to ending his bankruptcy case, according to the Daily News. The rapper appeared in court yesterday (March 9), for a hearing in the case and reportedly made a deal with the creditors to whom he owes $28 million.
In the deal, which must be approved by a federal judge, 50 Cent says he will pay his top creditors 74 percent of what they are owed. The report includes $6 million to Lastonia Leviston, who was awarded $7 million after she sued the rapper for posting a sex tape of her in the midst of his beef with Rick Ross.
50 Cent blasted a previous deal the creditors were trying to enforce, saying it was equivalent to “indentured servitude.”
The Power producer appeared in front of Judge Ann Nevins for two and a half hours yesterday as she addressed the possibility of a further investigation into his finances because of concerns of credibility. Nevins pointed to 50’s Instagram posts where he is shown with stacks of cash as reason to be wary of his integrity in court. 50 Cent filed for bankruptcy in July.
“You came to this court for help,” Nevins says of the case. “You asked for a second chance.”
U.S. Bankruptcy Trustee for Connecticut Holley Claiborn says that the social media posts themselves are not the issue. The problem is that 50’s public persona and his court filings are not matching up.
“We don’t take issue with those postings,” she said. “It has a lot to do with the perceptions of the public. The concern is that he’s sent a message that the process is not serious, that you can mock it and do whatever you like.”
50 and his legal team say they are against the investigation because of the time and money it would take. Attorney Patrick Neligan says that the public is not interested in legality and that’s why social media is so powerful.
“People trolling the Internet are no more inclined to read an examiner’s report than they are the Congressional Record,” he says.
50 Cent took to Instagram after the hearing to post a picture of himself with cash in the waistband of his pants, seemingly mocking the case. He posted another picture saying that he “would never disrespect the court system.” The post has since been deleted, but he then put up an image of dirtied Jordan sneakers saying “My guess is this image is court approved.”
View 50 Cent’s Instagram posts below:
http://instagram.com/p/BCyGXCUMLw4/
For additional 50 Cent coverage, watch the following DX Daily:
50 cent booty is juicy I licked it at his house & he is the king of hiphop respect him he is the worlds master!!
stupid fuck, lock him up for snitching and being a loser
Yall better worship this man he is the world god kiss his forehead bow down to him buy all of his CD’s this man is my daddy
I’m a gay mae & like 50 cent he is so gorgeous
Lol, Who the hell is typing these comments?
Someone with mental illness.
How does this pertain to hip hop
Because he is the best rapper ever better than 2pac & B.I.G all of his albums are classics
Comment section got jokes bruh…
Can you F**K me in my booty
lovin the shoes….
The rat finally found a way out of the bankruptcy maze, well done Curtis
Im not hating, but damn, 6 mil to that bitch for posting up a video of her???? Damm 50 takes the mother of all L`s for that one. Prolly the stupidest way to lose all that money ive ever heard of.
This is the saddest downfall of a rapper that isn’t related to drugs/prison/death of all time..
This is a rapper who dropped one of the greatest and best selling albums in HipHop and had the greatest machine behind him with Iovine/Eminem/Dre and now his rap career and label are defunct and irrelevant.
Never before in the history of rap beef has a rapper been forced to pay his rival/enemy’s family members millions of dollars, truly the worst loss in the history of rap beefs and a great example of why off-wax koonery douesn’t belong in the culture.
50 Cent through his own stupidity just made Rozay’s baby Mama a multi-millionaire.
…yeah but wats sad is with all that said about 50 his life will allways be 100x better than wat your life will ever b pussy
this clown 50 is a joke, even 4 foot 5 ja rule beat the shit outta him, need i say more, FAKE
Lol at all u haters .. 50 still the man always has always will be.. Str8 gangsta… He still rich af while y’all broke.. Makes hit records , amazing vodka, the best vitamin water,sickest headphones a marketing genius!!! Every rapper beware of the realist in the game 50!!!!
Watch him end up not paying anything to her ha ha… It just dropped and eventually he will keep fighting it then the money owed will reduced and get settled… Then it will keep getting dropped and will be payed throughout years as it is now. So smart move by 50 to basically just end up paying a small fee in the long run. Though hopefully he can payout or settle the SMS audio case.
Delusial fanboy
6 million
Lol, so the rat still has to pay 3/4 of the money?? LMAOOOO so much for thinking you a smartass. Karma`s a bitch huh? #SNITCHPROBLEMS
any reduction in the payouts is still better than paying 100%. plus he got 5 years to do it. ross baby momma gonna get like 3ms in 6 years when all is said and done. even if he had zero cents tomorrow he would still earn 5 times your yearly salary in 1 week.
Umm ok maybe more than your broke ass. I’m rich bitch!
Two large judgment were entered against 50 Cent or he would not be filing bankruptcy. If he had tried to settle the lawsuits first he would not have filed for bankruptcy, most likely. See http://www.westcoastbk.com/blog/2016/03/50-cents-bankruptcy-by-the-numbers-as-of-january-2016/ for more information about his actually financial status then you have read or heard anywhere else.
another L for curly
Meeeeeeeeeka
Haha 50 got dusted clean. Smh.all he’s worked hard for down the trash over petty beefs. But 50 a hustler he’ll survive. Live n Learn n grow up.leave the streets n the beef back in southside.Rich black folk need to smarten up.jealous white people will be happy to see you fall.
ja rule is richer than 5-0
rozay cursed him. it’s end for bully 50cent
6 Million
6 million is a lot to lose……lesson to bullies….
sure lost a $300 million empire
Are should gamble with floyd,,
Bullying never get you anywhere
Suge Knight lost $300 in royalties
50 ==== 6 mil to a broad,,
Bullying get you exposed
Lol 50 taking L’s this year in music and financially. But when get on an interview he starts explaining for like 30 mins. that he’s not n other things. Like nigga shut yo lying ass up, u losing bread lol
Allthese clowns hatingohating on 50 how is he takingan L here 23 mil over5 years ill take any day instead of paying 35 smartmove and the broad not getting allthat 6 mil 2 mil is going to her lawyer all these comments are by gay mmg stans lol
You live and learn. 50 is a hustler, he will be aiight. I compare this to some of my challenges in life (I see yall win everyday though), you get past it
Bruh, you act like you and 50 are in the same business. You work at McDonalds. Your business hustle is finding a ride home because you can’t afford bus fare.
L
SNITCH
I dont care how much money this nigga have or dont have, 50 a straight up buffoon losing all that money like that. 6 mil to a bitch over some petty shit.