Monday 13 July 2015

50 Cent Files for Bankruptcy

50 Cent has filed for bankruptcy, three days after being ordered to pay Rick Ross’ baby mama Lavonia Leviston $5 million for leaking her sex tape.

According to reports,  leviston sued 50 Cent for emotional distress and invasion of privacy, claiming she suffered from depression and became suicidal after her sex tape was viewed millions of times. 50 Cent failed to get the suit to dismissed, and the trial began late last month.

On Friday, a New York jury ruled in favor of Leviston. The verdict gives her $2.5 million for each of her two complaints. But a penalty phase was set for this week, in which jurors would decide what punitive damages should be awarded.

50 Cent was expected to present a statement of his net worth, which would be used to determine the award. But Today he filed for bankruptcy, claiming his worth of between $10 million and $50 million is about equal to his debts. The music star is also dealing with the fallout of a $17.2 million copyright lawsuit he lost over headphones he designed.

Culled from gossipcop