50 Cents bankruptcy case settled after rapper pays $22 million
3 February 2017 Entertainment News
Fourth Estate Staff
Los Angeles, CA, United States (4E) – Rapper 50 Cent was embroiled in a bankruptcy case but that case was recently dismissed after he paid more than $22 million.
Bankruptcy Judge Ann Nevins was the one who approved the discharged on Thursday. The case was at Hartford, Connecticut. The payments made were $8.7 million from his own money for repaying his debts and $13.65 million for the malpractice settlement with his ex-lawyers.
The “Get Rich or Die Tryin'” singer filed for bankruptcy last July 2015. This came after a Florida woman named Lastonia Leviston won the case against the rapper. She was paid $7 million. During the filing of the bankruptcy, he listed $36 million in debts but only had $20 million assets.
While claiming that he no longer had funds, the rapper was criticized by the bankruptcy judge as he posted photos on social media showing loads of cash. 50 Cent still had four years to repay his debts. It is unclear why he decided to settle the court-approved bankruptcy plan.
Although he paid more than $22 million, the rapper still owes money to Bentley, SunTrust Mortgage, and $50,000 to women he injured at his concert in 2004 in Massachusetts.
The rapper got famous in 2003 with his debut album “Get Rich or Die Tryin’.”
The actor or his representatives have not released any statement regarding the payments made.
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