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50 Cent Files For Bankruptcy After Losing $5 Million Lawsuit

Rapper 50 Cent has filed for bankruptcy after losing a $5 million lawsuit.

The artist, whose real name is Curtis Jackson III, filed for Chapter 11 bankruptcy protection on Monday after a jury ordered him to pay a woman $5 million in an invasion-of-privacy lawsuit.

The woman, Lastonia Leviston, had claimed he got his hands on a private video she made with her boyfriend, added his crude commentary and leaked it online to damage her and rap rival Rick Ross' reputation.

The video featured a 50 Cent in a wig as a narrator dubbed Pimpin' Curly who makes explicit remarks and taunts Ross, who isn't in the video but had previously fathered a child with Leviston.

The jury was scheduled to deliberate on further punitive damages this week but the filing may put that on hold. And that may precisely be Jackson's plan. So skirt further damages and paying Leviston,

The rapper, who owns a 50,000-square-foot mansion and is known for the album 'Get Rich or Die Tryin', has no one believing he's actually bankrupt.

He also makes millions each year with his investment in Vitamin Water and licensing deals and is on Forbes' five wealthiest hip-hop artists for 2015.

July 14, 2015 |

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