50 Cent was forced to answer lingering questions regarding his financial state during a bankruptcy hearing on Wednesday (March 9) in Hartford, Connecticut. After certain Instagram posts began to draw suspicion, the rapper reached an agreement deal in the case and admitted the money he used on social media was actually fake.
50 Cent, whose real name is Curtis Jackson, reached a settlement with the creditors who look after more than 95 percent of his debts. U.S. Bankruptcy Judge Ann Nevins called the rapper to court to voice his opinion on a variety of photos that show him leisurely playing with large amounts of money, one of which showed him sitting next to bundles of cash organized to spell the word "broke."
His lawyers held a meeting with the creditors' lawyers to assure them the piles of cash seen in the photos were not real, according to a recent Hartford Courant report. In an affidavit filed earlier, the 40-year-old New York native revealed the money was a prop used to promote different business ventures he's involved in.
The agreement, if approved by Judge Nevins, would allow all creditors to be payed in full, while the unsecured creditors would be paid between 74 and 92 percent of the debt their owed over the past five years. The amount of repayment revolves around how fast 50 Cent can pay them.
Last July, many fans were shocked when he filed for Chapter 11 bankruptcy. This came about after his ex, Lastonia Leviston, won a $7 million lawsuit against him for posting a sex tape of her to his website. Leviston has since agreed to a $6 million settlement listed in his bankruptcy plan. 50 Cent claims to have accumulated $19.86 million in assets and liabilities of $36.09 million.
A photo posted by 50 Cent (@50cent) on Mar 9, 2016 at 2:38pm PST
Shortly after leaving the hearing, 50 Cent retreated back to his personal Instagram account to let his followers know how he was feeling after the hearing. He even made a joke, by posting a pair of dirty sneakers in hopes of seeking the approval of the bankruptcy court.
"For some reason people love me," 50 Cent wrote on his Instagram caption. "I went to court today and all I felt was love. They asked me about money I said I ain't got none, but if you want some m&m's here ya go."
