Report: 50 Cent’s Bank Account Frozen

Report: 50 Cent’s Bank Account Frozen

Sleek Audio seeking to get a $16 million judgment.

Published December 2, 2014

50 Cent’s bank account has been frozen because he failed to pay a multi-million dollar legal judgment, reports TMZ. Sleek Audio sued him over a botched endorsement deal, accusing Fif of lifting their product design and trying to sell his own version. 

In April, a judge ordered the G-Unit frontman to cover more than $11 million in damages (which is based off the years of net profits from SMS Audio, the company that produces his line of headphones), and close to $4.5 million in legal fees. The judgment also allows Sleek Audio to garnish his wages, if he doesn’t pay.

The Queens MC became a partner in Sleek Audio four years ago, loaning the company $285,000. But Sleek Audio claims 50 abandoned his post when the products didn’t sell fast enough. 

A lawyer says the ruling is on appeal, adding that Sleek Audio is “desperately attempting” to locate any accounts that are accessible. 

While his personal account is frozen, Fif’s business accounts are still in the clear. The 39-year-old is worth a reported $140 million.

 

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(Photo: Neilson Barnard/Getty Images)

Written by Latifah Muhammad

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