Rapper 50 Cent Files for Bankruptcy After Hit with $5M Lawsuit Judgement
50 Cent, born Curtis James Jackson III, filed for chapter 11 bankruptcy protection on Monday, reports the Wall Street Journal.
Jackson reported assets and debts each in the range of $10 million to $50 million, according to court documents filed in the U.S. Bankruptcy Court in Hartford, Connecticut.
The bankruptcy filing comes in the wake of a Manhattan jury ordering the "Get Rich or Die Tryin'" rapper to pay $5 million to a woman who sued him for posting her private sex tape on his website, The Associated Press reported.
On Friday, the jurors ordered the $5 million judgement and will continue deliberating this week on whether or not more punitive damages will be awarded in Lastonia Leviston's invasion-of-privacy lawsuit.
Attorney William A. Brewer III said 50 Cent is "disappointed in the verdict but very appreciative of the service of the jury and the court."
It previously reported that Leviston, the woman featured in the 13-minute video, sued the hip-hop star for violating her civil rights by posting the private sex tape on his website without her consent.
Leviston's attorney Philip Freidin said Jackson benefited financially from the video, which he doctored by superimposing his alter ego "Pimpin' Curly" over the face of Levinston's boyfriend, Maurice Murray, as well as adding two of his songs. In the video, the "In Da Club" rapper made explicit comments about Leviston and taunted rapper Rick Ross, who has a daughter with her.
In the court proceedings, Leviston testified she lost her dignity after learning the tape went viral.
She testified that she made the tape with Murray because they had lived in different cities. He told her the sex tape would make him feel closer to her when they were apart.
Despite the bankruptcy, 50 Cent is touting his birthday bash at the Ace of Diamonds strip club in West Hollywood, California on Monday.
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