Do you suspect that some time in the future, you will film a sex tape? A tape that will, through a series of events we can't get into right now, fall into the hands of rapper Curtis James Jackson III AKA 50 Cent? Who at the time will be in a feud with either you or a close friend of yours, and will post it on the internet to raise the stakes? Know this: should you go after him for damages, he will go nuclear. You fuck with him for money? He files for bankruptcy. Shuts the whole operation down. Locks the door to the bank and swallows the key. Maybe even writes a song about it.
The 40-year-old rapper, Curtis James Jackson III, filed for chapter 11 protection in the U.S. Bankruptcy Court in Hartford, Conn., on Monday, the same day he was supposed to appear in a New York state court to determine whether he owes punitive damages in a 2010 lawsuit filed by Lastonia Leviston, rapper Rick Ross’s ex-girlfriend, court records show. Jurors said last week that Mr. Jackson should pay $5 million to Ms. Leviston, who said that Mr. Jackson violated her privacy by posting a sex tape of her online. Mr. Jackson’s lawyers dispute the amount of the verdict. The skeletal, five-page bankruptcy petition didn’t reference the lawsuit. Generally, filing for bankruptcy protection halts lawsuits and collection efforts...50 Cent put his boxing promotion company, SMS Promotions LLC, into bankruptcy protection on May 26. The maneuver was related to the 2010 sex tape lawsuit.
Rapper 50 Cent Files for Bankruptcy [Bankruptcy Beat]