Bankruptcy Judge Orders 50 Cent to Explain Bundles of Cash Posted on Social Media

by San Antonio Attorney

Rapper 50 Cent, who recently filed for bankruptcy, was summoned by a bankruptcy judge to provide an explanation about pictures posted on social media that depicted him playing with lots of cash.

Bankruptcy Judge Ann Nevins told 50 cent’s legal representative that his Instagram photos are inciting speculation whether his declaration of bankruptcy is in good faith or not.

Judge Nevins asked during the court hearing on Feb. 21 whether 50 Cent was completely transparent in the case.  She also said that the bankruptcy process is meant to be transparent to ensure confidence in the process, and give unfortunate people a fresh start in their life.

50 Cent, otherwise known as Curtis James Jackson III, posted three pictures in Instagram showing cash piles everywhere.  The photos were flagged by Lastonia Leviston, who gathered $7 million in a sex-tape dispute but unfortunately did not collect the money since 50 Cent filed for bankruptcy.  Other involved parties include 50 Cent’s mortgage lender and a partner in a botched headphone deal.  They were owed approximately $18 million.

The official date of the hearing for Jackson’s case, which the rapper is mandated to attend, has not been set.  Jackson’s legal representatives, in response to the social media post criticized by many, clarified that these photos were intentionally included in filings to purposefully make him look bad.

The headphone investor group’s lawyer stated that they are in suspicion for Mr. Jackson financial reporting and standing, thus requiring him to disclose all his earnings during the case.  50 Cent has made several TV appearances and held a lot of concerts but these sources of income were not officially declared.

50 Cent filed for Chapter 11 protection last July 13, before the jurors have determined whether he should pay for damages in the sex-tape lawsuit filed by Leviston, rapper Rick Ross’ former lover.

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