Uh Oh, the judge in 50Cents bankruptsy case is requesting the rapper come see her again to go over financials, as she is questioning what is on the paperwork. Judge Ann Nevins had caught wind of the cash bragging Instagram posts that we had reported on earlier and now she has “some doubts” about the rappers financial statements.
50cent if you are unaware filed for chapter 11 bankruptcy protection after losing his legal battle over Rick Ross’s baby mama sex tape that he leaked to the web in an effort to dogg on his music industry enemy Rick Ross. The Lastonia Leviston leaked sex tape video case awarded Lastonia over $7M in damages at which point 50 Cent went public that he was broke and could not afford the judgment and was on his way to see his bankruptcy attorneys immediately after Lastonia thought she was getting paid. 50 and his attorneys filed out all the appropriate forms and the rapper was officially under bankruptcy protection and Lastonia according to the law was simply “ass’d out”.
But, unfortunately for the rapper the judge has now seen (thanks to Lastonia’s attorneys) all the stacks and stacks of cash in his Instagram posts and Twitter posts of the rapper in the strip clubs going through thousands of dollar bills. The Judge is quoted saying: “There’s a purpose of having a bankruptcy process be transparent, and part of that purpose is to inspire confidence in the process.”
This seems to be a very touchy issue as the penalty for bankruptcy fraud can be very stiff including mandatory prison time, so naturally we put in a call to one of 50Cents attorneys Robins Kaplan and got the following out of them about the current gossip: “People need to understand that his image posts that may show him as being filthy rich are a part of his celebrity status and simply a part of his profession to give the illusion of not being a broke musician, of which is important to his industry. We have included all the correct documents and financial reports required by law and stand by our client Mr. Jackson.”
Here is 50Cent on video saying he is not broke and did the protection to only screw Lastonia out of getting any of his cash in so many words. He better be careful, the DOJ loves putting “financial criminals” in jail and throwing away the key.