The Wall Street Journal reports that 50 Cent filed for Chapter 11 bankruptcy protection on Monday. In the court papers filed in the U.S. Bankruptcy Court in Hartford, Conn., he reported assets and debts ranging from $10 million to $50 million.
50 filing for bankruptcy could be to counter a jury ordering him to pay $5 million over a sex tape. Lastonia Leviston filed an invasion-of-privacy lawsuit against the hip hop mogul because he posted the video online with her then-boyfriend's consent and taunted her as his character Pimpin’ Curly throughout it in 2009. At the time, 50 was beefing with Rick Ross and Leviston (who has a daughter with Ross) was used as the butt of his joke.
The attorney listed on the bankruptcy papers wasn’t available for immediate comment.
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