Go ahead dummy it was settled the same week
Jackson cited debts of $36million and assets of less than $20million, with his lawyers saying in court documents that the bankruptcy filing was the result of several factors.
They include a
$17million verdict against him in a legal dispute over headphone products and a $7million verdict against him in a lawsuit filed by a woman who said he posted her sex tape online without her permission.
The $17million verdict in 2014 involved what Jackson's lawyers describe as a failed business venture with Sleek Audio to develop headphone products to be marketed under the 50 Cent name.
His lawyers say Sleek failed to meet a 2011 deadline to have the headphones ready for production, and the deal was terminated.
Sleek later sued Jackson and won after he formed a new company, SMS Audio, to develop new headphones, saying SMS stole Sleek's design.
Jackson is appealing the $17million verdict and suing his lawyers in the case for $75million
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50 Cent claims SECRET SERVICE is asking about 'prop money' in his pics
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WILL 50 CENT FACE A SECRET SERVICE PROBE OVER FAKE CASH?
The Secret Service is responsible for stopping people from counterfeiting U.S. currency - and could take action against 50 Cent.
Rules on creating fake dollars state that they must be less than three-quarters the size of a normal bill or one-and-a-half times bigger.
Fake money must also be destroyed immediately after use, with it unclear whether the rapper has done so.
It may seem trivial, but the Secret Service has clamped down on the use of fake money in promotional material and films in recent years.
Agency spokesman Robert Hoback told the
Hollywood Reporter that an explosion on the set of Rush Hour 2 in 2000 saw hundreds of thousands of fake bills rain down on members of the public, leading to a minor incident.
Mr Hoback did not confirm whether 50 cent would face action, but said: 'If it's counterfeit, and we're made aware of it, we will investigate.'
Sleek later sued Jackson and won after he formed a new company, SMS Audio, to develop new headphones, saying SMS stole Sleek's design.
Jackson is appealing the $17million verdict and suing his lawyers in the case for $75million.
Last year a New York jury awarded $7million last year to Lastonia Leviston, the ex-girlfriend of Rick Ross, after determining Jackson did not have her permission when he posted online a sexually explicit video she made with her boyfriend and provided running commentary.
Jackson disputes Leviston's claims and is appealing the award.
It was Leviston who first flagged the Instagram images, as she has not been able to collect the money after Jackson claimed he was broke.
New financial documents filed recently show Jackson has nearly $19.9million in assets including his mansion in Farmington, Connecticut.
They also revealed he's trying to sell and $10.6million in bank, brokerage and other financial accounts. The documents list $36million in liabilities.
The proceedings have been ongoing since July last year.
Read more:
50 Cent claims SECRET SERVICE is asking about 'prop money' in his pics
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Ya boy still not out the woods yet....
where's your proof they settled these lawsuits.... Tick Tock dumb nikka...
THE ONLY THING 50 SETTLED WAS THE RYAN MARTIN CONTRACT... STOP YA fukkING LIES...
