50 Cent files for Bankruptcy!July 14, 2015
G98.7FM Entertainment NewsRapper, actor and entrepreneur 50 Cent -- aka Curtis Jackson III has filed for bankruptcy stating that he's "taking precautions." Jackson filed filed for chapter 11 protection in the U.S. Bankruptcy Court in Hartford, Connecticut yesterday, the same day he was supposed to appear in a New York state court to determine whether he owes punitive damages over a 2010 lawsuit by Lastonia Leviston over a sex tape.
According to E! News, during a press event to promote his new film Southpaw, the 40 year-old rapper says he's simply protecting his financial future. "I'm taking the precautions that any other good businessperson would take in this situation. You know when you're successful and stuff, you become a target. I don't wanna be a bullseye. I don't want anybody to pick me as the guy that they just come to with astronomical claims and go through all that." In a statement to USA TODAY, Jackson's attorney William A. Brewer III said, "This filing for personal bankruptcy protection permits Mr. Jackson to continue his involvement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganization of his financial affairs." Good luck 50! Source: USAToday.com,blogs.wsj.com//Image: urbanislandz.com
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