Rapper 50 Cent filed for chapter 11 bankruptcy protection in Connecticut on Monday morning.
The Wall Street Journal reported that 50 Cent, whose real name is Curtis James Jackson III, filed the court papers in Hartford and listed his assets and debts between $10 million to $50 million.
The filing comes just days after the “In Da Club” rapper was ordered by a judge to pay a woman named Lavonia Leviston $5 million for posting a sex tape of her online without permission. The jury in that case deliberated for just over an hour before coming to that decision.
Moreover, TMZ noted that the 40-year-old lost a civil suit last year in which a $17.2 million judgement was placed against him for ripping off Sleek Audio’s headphone design. However, that same article mentioned that the rapper’s net worth is estimated at more than $140 million.
For his music career, Jackson has sold 12 million albums. He has also starred in movies and television and is the spokesman for Vitamin Water.
Image courtesy of Roger Wong/INFphoto.com