American Rapper 50 Cent Files For Bankruptcy

American rapper and businessman, Curtis “50 Cent” Jackson has filed for Chapter 11 bankruptcy protection in the United States of America. This comes in the wake of the rapper being ordered to pay $5 million in punitive damages in a 2010 lawsuit filed by Lastonia Levistonto, his rap rival Rick Ross’ ex-wife for leaking her sex tape online.

According to a statement released by Jackson’s attorney, “This filing for personal bankruptcy permits Mr. Jackson to continue his involvement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganization of his financial affairs,”. 50 Cent exploded onto the global music scene with his hard hitting “Get Rich Or Die Trying” album released under Interscope Records.

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