Saturday, 20 February 2016

A Judge Wants 50 Cent To Explain The Abundance Of Cash He Flaunts On Instagram

50 Cent is taking another unwanted trip to bankruptcy court to explain the endless bundles of cash he’s posted on Instagram after he was ordered to pay $7 million in a sex tape case to Lastonia Leviston, the ex of Rick Ross.


The Wall Street Journal reports it was Leviston who brought the photos to Judge Ann Nevins’ attention during a hearing on Thursday (Feb. 18). Speaking with the rapper’s lawyers, Nevins said she is concerned about the sincerity of the rapper’s money woes. “There’s a purpose of having a bankruptcy process be transparent, and part of that purpose is to inspire confidence in the process,” she said, adding that bankruptcy is for “honest, but unfortunate” people who are given the right to start over.
A Judge Wants 50 Cent To Explain The Abundance Of Cash He Flaunts On Instagram
Not long after the rapper made the notion for Chapter 11 protected bankruptcy, he was seen on IG with money in his fridge, bedroom and laying on the floor spelling out the words, “broke.”

Broke can take on different meanings for those of the rich and famous, but the rapper does owe his mortgage lender and a partner in his failed headphone deal a reported total of $18 million. The parties have advised the court to have a third party manage the rapper’s money until he is able to pay off his reported $30 million debt to creditors.

His lawyers have clapped back by explaining his social media space is simply to promote his brand and doesn’t hold any leverage in the claim. In other words, “it’s just entertainment folks.”

“By including pictures from [Mr. Jackson’s] social media accounts and implying that [he] is hiding assets…the [three creditors] intentionally ignore that [Mr. Jackson] is in the entertainment and promotion business and must maintain his brand and image (or those of the products he is promoting),” his lawyers said.

A definitive date for 50 to head to court hasn’t been revealed. Source: www.vibe.com
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