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Tuesday, 14 July 2015

ENTERTAINMENT: 50cent Files For Bankruptcy Days After Court Orders Him To Pay $5M To Rick Ross Wife

50cent is down for the count after losing a multi-million dollar lawsuit ... he's just declared bankruptcy. TMZ has confirmed ... 50 filed for bankruptcy on Monday, 3 days after Rick Ross' baby mama won a $5 million jury verdict against him.  50 is in a world of financial hurt. A jury awarded Lavonia Leviston the $5 mil after determining the rapper intentionally leaked a sex tape in which she was featured, in order to embarrass Ross. 50 has been ordered to produce proof of income and worth so the jury can determine punitive damages. 
According to the bankruptcy filing -- a story first reported by Page 6 -- 50 says his assets are valued between $10 and $50 million but his liabilities are also between the same range. On top of that, 50 lost a court case in which a jury socked him with a $17.2 million judgment over ripping off a headphones design. 

Credit: TMZ

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Jesse Osayande Vucinic Ehiagwina

Filing for bankruptcy is technical. He is worth much more than 100m even. Sometimes people file so they can get around something. In this case he's trying to do it so he'll avoid paying the 5m damages.

Endy Edeson

@JESSE: but that won't stop him from paying, right? he is worth paying such. it's an open secret

Jesse Osayande Vucinic Ehiagwina

It shouldn't if they can prove he's solvent.

Bekere Becky Afaka

Jesus save black ppl in USA

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