A court judge has ordered US rapper 50 Cent back to court to answer for his bankruptcy claims due to the MC showing off bundles of cash in a series of contradictory Instagram photos.
By RIP NICHOLSON
As CNN reports, via The Wall Street Journal, 50 Cent (real name Curtis James Jackson III) — whose first album was titled Get Rich or Die Tryin (2003) and has since sold over 22 million albums to date — has been pulled up due to posturing in social media posts an extravagant lifestyle that directly contradicts his financial claims in court. As a result, US bankruptcy judge Ann M. Nevins has called the rapper out for his alleged dishonesty.
“I’m concerned about allegations of nondisclosure or a lack of transparency in the case,” the judge told the rapper’s attorney, James Berman, in court on Thursday.
The 40-year-old Queens-bred rapper filed for Chapter 11 bankruptcy last July, just before a Manhattan court had ordered 50 Cent to pay punitive damages amounting to $US5 million over a sex tape case from 2009, which he has since lost.
However, 50 Cent has been steadily posting images across his Instagram account showing off with stacks of cash like the one pictured of him in bed surrounded by bundles of $100 bills amounting to $US50,000 and another where he has used bundles to spell out the word “B-R-O-K-E.”
Despite claiming financial woes in July — and consequently dismissing his apparently still-lavish lifestyle as “entertainment” and illusory — 50 Cent maintains that he is still making a large amount of income, and court documents have suggested the rapper is being sent broke by the substantial cost of a litany of lawsuits and litigations awarded against him — in excess of $US20 million over 2015 — which outweighs 50 Cent’s current revenues.
The purpose of filing for the bankruptcy is that it be transparent, to inspire confidence in the process explained the judge, adding that court is where “an honest but unfortunate debtor can come into court and seek relief.”
“When that process becomes very public, the need for transparency, I believe, is even higher,” she said.
On Friday, after being ordered to show up in court, the rapper’s legal team had assured that he would show up “to make sure that all questions have been addressed,” as issued from a statement released.
“Mr. Jackson has been forthcoming and transparent with all creditors,” said 50 Cent’s legal team.
50 Cent’s lawyers said, in documents filed in US Bankruptcy Court in Hartford, Connecticut, that the social media posts were published as stunts to maintain his brand and image as an entertainer and promotions businessman and claiming the creditors had intentionally ignored this fact.
One of three claimants in the bankruptcy case is the ex-girlfriend of Miami rapper Rick Ross, Lastonia Leviston, who first flagged the social media posts and says the pair is owed $US29 million collectively. Also adding to the long list of creditors is Australian boxer Billy Dib, who was left high and dry by the rapper after a soured promotional deal to the tune of $US1 million, as reported last week.
As CNN notes, documents suggest that this legal reappearance comes amid further implicating images on the rapper’s social media account that display huge public performances the entertainer has done as part of his job but allegedly failed to declare to the court.