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50 Cent Declares Bankruptcy AGAIN (total bullshit!)

Hotlantan

Hotlantan

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OG Investor
50 Cent
I'm Busted
Declares Bankruptcy

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50 Cent is down for the count after losing a multi-million dollar lawsuit ... he's just declared bankruptcy.

50 filed for bankruptcy on Monday, 3 days after Rick Ross' baby mama won a $5 million jury verdict against him.

50 is in a world of financial hurt. A jury awarded Lavonia Leviston the $5 mil after determining the rapper intentionally leaked a sex tape in which she was featured, in order to embarrass Ross.

50 has been ordered to produce proof of income and worth so the jury can determine punitive damages.

According to the bankruptcy filing -- a story first reported by Page 6 -- 50 says his assets are valued between $10 and $50 million but his liabilities are also between the same range.

On top of that, 50 lost a court case in which a jury socked him with a $17.2 million judgment over ripping off a headphones design.

It's a breathtaking fall .. in May, Forbes estimated 50's net worth at $155 million.
 
Im not in to counting another mans money but...how is this possible? With movies and film shit popping it seemed like fif was good. Power alone should keep his pockets looking right.
 
i remember jeezy did something similiar to avoid having to pay a higher child support fee

aint nothing new its always been said you don't tell forbes how much you make but this is just his karma coming after him for the shit he's pulled over the years
 
Re: 50 Cent Declares Bankruptcy AGAIN (total bullshit!)
Quote:
Originally Posted by Drayonis View Post
Man once people know you have money they will come to get it.
they (usually) can't get it if you ain't fuckin up


Yea 50 cent knew better than to do that to that lady. He was upset when the pictures of the girl on his series pictures were leaked even though people would see it on the series anyway and have pictures of it. He was talking about suing for that.

http://oneblacknation.webs.com/

http://blacknation.vpweb.com/default.html
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Street-Muzik said:
Im not in to counting another mans money but...how is this possible? With movies and film shit popping it seemed like fif was good. Power alone should keep his pockets looking right.
Click to expand...

Principle number 1 of offshore banking states that YOU OWN NOTHING but CONTROL EVERYTHING...

101 on money laundering
 
I hope she get it, too! Somewhere Ross is laughing, somebody post a gif.

Since he wanna claim broke....It would be tight if instead of the $5 mil she gets a business or a stake in a business worth $5mil and the shit grows and keeps paying her, eventually more than $5mil.

Don't they have to assess his total worth and divide it up amongst his creditors & debt holders? Ain't that how bankruptcy work?

Sent from my SM-G900V using Tapatalk
 
Yep its bullshit and very strategic.
Heck he got team of lawyers on site. Why dud he wait after the rick ross wufe issue to occur first then file for banktuptzy especially he is riding high in his vodka and other budbusiness ventures. Dude got millions of dollar alone from underwear brand etc...
 
BGOL Financial: Whats the strategy or atvantage here in 50 claiming bankruptcy? Others have hinted at it but Im curious to know exactly how this works..
 
Dhustla said:
:confused: Elaborate

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Click to expand...

Game theory i think he is saying is that the financial structure dont have 50 as straight up ownerr maybe its named by power of attorney or maybe many layers of elaborate corporations or trusts or even not reported by US. Im guessing


Just days ago 50 posing for magazines promoting underwearline and promoting effin vodka.. Power tv show doing great and other business ventures
Aside from 50 if dj whoo kid his dj is able to travel and network with Arabian big wigs and powerful people and their adult sons there is no telling the financial networking going on as you see and hear more than thinking locally.

exiledking said:
I wonder if he will write this into his success strategy list.
Click to expand...

I know you hate 50 but this is strategic.this is not a mc hammer type of bankruptzy when you know he was bleeding in over spending with bad investments and tons of people on his payroll. Lukse from 2 live crew filed bankruptzy and he sounded happy when they interviewed him.donald trump i think filed 2 times for banktuptzy. Shit man the creditors and rick ross girl if they do get shit it might be way smaller settlement or its washed or long term small pay to creditors. It also forces creditors to make a decision to get what they can at bassment prices.:
 
The fact that everyone knows this is a strategy can be an issue for 50 later on. Find someone with enough time on their hands and just enough hate for him, can get him investigated. He was already investigated for that soda water deal so......just wait. Fiddy, Lawyers and banks could be investigated.

marcvoi said:
Yep its bullshit and very strategic.
Heck he got team of lawyers on site. Why dud he wait after the rick ross wufe issue to occur first then file for banktuptzy especially he is riding high in his vodka and other budbusiness ventures. Dude got millions of dollar alone from underwear brand etc...
Click to expand...
 
Dhustla said:
I hope she get it, too! Somewhere Ross is laughing, somebody post a gif.

Since he wanna claim broke....It would be tight if instead of the $5 mil she gets a business or a stake in a business worth $5mil and the shit grows and keeps paying her, eventually more than $5mil.

Don't they have to assess his total worth and divide it up amongst his creditors & debt holders? Ain't that how bankruptcy work?

Sent from my SM-G900V using Tapatalk
Click to expand...

How good is your financial know how?
 
Street-Muzik said:
Im not in to counting another mans money but...how is this possible? With movies and film shit popping it seemed like fif was good. Power alone should keep his pockets looking right.
Click to expand...

Corp protections work both ways right? If that money is setting in an account under the business name it's legally the business' money until he pays himself.

Also, in addition to legal protections, leaving that money in the company would allow him to keep his income tax burden low.
 
Man someone in his camp had to have leaked this shit to the press. Dude literally just filed this a couple hours ago. It's so new that the case number isn't even up on PACER (Pacer is the national electronic index for all Federal Courts). Anyone for those interested here is the Bankruptcy petition. He hasn't put up his statements on his income yet. I'll post when he uploads it, if any one is curious. I also have young buck's Bankruptcy information. You have to love having Federal Access.

<iframe src="http://www.viewdocsonline.com/embed/jrx328" frameborder="0" width="600" height="500">*</iframe>
 
doggface said:
Corp protections work both ways right? If that money is setting in an account under the business name it's legally the business' money until he pays himself.

Also, in addition to legal protections, leaving that money in the company would allow him to keep his income tax burden low.
Click to expand...
Okaay den..

Sent from my SM-G900V using Tapatalk
 
marcvoi said:
Game theory i think he is saying is that the financial structure dont have 50 as straight up ownerr maybe its named by power of attorney or maybe many layers of elaborate corporations or trusts or even not reported by US. Im guessing


Just days ago 50 posing for magazines promoting underwearline and promoting effin vodka.. Power tv show doing great and other business ventures
Aside from 50 if dj whoo kid his dj is able to travel and network with Arabian big wigs and powerful people and their adult sons there is no telling the financial networking going on as you see and hear more than thinking locally.



I know you hate 50 but this is strategic.this is not a mc hammer type of bankruptzy when you know he was bleeding in over spending with bad investments and tons of people on his payroll. Lukse from 2 live crew filed bankruptzy and he sounded happy when they interviewed him.donald trump i think filed 2 times for banktuptzy. Shit man the creditors and rick ross girl if they do get shit it might be way smaller settlement or its washed or long term small pay to creditors. It also forces creditors to make a decision to get what they can at bassment prices.:
Click to expand...
Thanks
 
When a cracka like Trump does it (multiple times btw), its "chess not checkers"

Let a brotha do it and its "total bullshit" :lol::lol:
 

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