In what many have termed as strategic move by a
popular American rapper, Curtis Jackson III popularly called 50 Cent to shield
himself from the financial consequences of a privacy invasion lawsuit has filed
for bankruptcy protection under Chapter
11 of the US Bankruptcy Protection Law at
a US Bankruptcy Court in Hartford on Monday.
50 Cent who owns a 50,000-square-foot mansion in Farmington
has been ordered by a New York jury on Friday to pay five million dollars ($5,000,000)
damages in an invasion of privacy lawsuit. The $5 million is to be paid to a woman who
said 50 Cent acquired a video she made with her boyfriend, added himself as a
crude commentator and posted it online without her permission, Associated Press
reporter wrote Pat
Eaton-Robb.
The 13-minute video that appeared online in 2009,
featured a wig-wearing 50 Cent as a narrator dubbed Pimpin' Curly. He makes
explicit remarks about the images and taunts rap rival Rick Ross, who isn't in
the video but had previously had a daughter with Leviston.
At the time the video surfaced, Ross and 50 Cent
were trading barbs via video, lyrics and interviews. Jackson got the tape from
the man in it, Leviston's boyfriend at the time. The rapper said that he didn't
actually post the video but that Leviston's then-boyfriend said she wouldn't
mind if he did.
The rappers camp in its bankruptcy filing listed
both the assets and liabilities for the rapper and actor as between $10 million
and $50 million and argued further his debts are primarily consumer and not
business related.
This week, the jury is scheduled to deliberate on
possible further, punitive damages in Lastonia Leviston's invasion-of-privacy
lawsuit against Jackson but the 50 Cent bankruptcy protection filing may put
the trial on hold. On Monday, Jackson did not appear as scheduled to testify
about his finances because of the bankruptcy filing, his lawyer while
explaining his absence said:
Mr. Jackson's business interests will continue
unaffected in the ordinary course during the pendency of the Chapter 11
case," attorney William A. Brewer III said in a statement. "This
filing for personal bankruptcy protection permits Mr. Jackson to continue his
involvement with various business interests and continue his work as an
entertainer.
How Jackson will get favourable protection from
his personal bankruptcy protection filling still remains to be seen as Jackson,
an admitted former crack dealer has built an empire beyond entertainment. He
invested early in Vitamin Water and has expanded his business interests into
clothing and audio equipment. He also was named by Forbes in May as one of
hip-hop's five wealthiest artists for 2015.
He bought his 17-acre home in Connecticut from
boxer Mike Tyson in 2003 for $4.1 million. The house includes 19 bedrooms, more
than two dozen bathrooms, a gym, billiard rooms, racquetball courts and a disco
complete with stripper poles. The house was put up for sale in 2009 for $10.9
million but is no longer on the real estate market.
50 Cent who burst into the limelight of gangsta
rapping with his 2003's "Get Rich or Die Tryin'" lead single,
"In Da Club," and a tough life story that included having been shot
nine times.
Now 40, he has gone on to become an actor whose
credits include the Starz network action series "Power" and the
upcoming boxing movie "Southpaw."
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