The rapper 50 Cent filed for bankruptcy protection on Monday, halting a dispute over a sex tape.
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.
“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,” said William A. Brewer III, his lawyer, in a statement. Lawyers didn’t explain how he plans to use bankruptcy protection to get a fresh start.
The entertainer poses in front of a small car and says times are hard!!!Do you believe him or it is just a ploy to avoid settlement claims? share your thoughts!!!
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