According to the NY Daily News, 50 is in the process of making a deal with creditors that would require him to pay 74 percent of what he owes.
That deal includes the $6 million settlement with Lastonia Leviston, Rick Ross‘ ex-girlfriend, who filed suit against him after 50 released her sex tape onto the internet.
The new arrangement comes after 50 (Curtis Jackson) was reprimanded by the court for posing with large amounts of money on his Instagram. He was also flagged for posting about his “crib in Africa,” which wasn’t listed in his assets. Fifty, of course, says the home doesn’t actually exist.
During the two and a half hour-long hearing presided over by U.S. Bankruptcy Court Judge Ann Nevins, both sides argued over 50’s odd claims, including when the rapper said he had $44 million in accounts receivable, but retracted that statement a week later.
Jackson doesn’t think his Instagram pictures should affect the court case, telling the NY Daily News, “She’s making it like they’re the same kind of sworn statements. I have no comment. I’m putting what I have to say up on Instagram.”
The Daily News reports:
Lawyers for Jackson and the creditors opposed having an examiner look more deeply into more than two dozen limited liability corporations that are the sources of his income. They said it would cost money and take more time.
Nevins said she would issue a decision about appointing an examiner at a later date.
In the meantime, 50 shows no signs of censoring his Instagram posts.
SOURCE: NY Daily News
50 Cent Reaches Bankruptcy Deal With Creditors Over Debt was originally published on globalgrind.com