A Connecticut court gave the green light to a proposal
submitted by 50 Cent, who was 50 Cent celebrating his 41st birthday, to pay
some $23.4 million to creditors over five years.
The
plan approved by Judge Ann Nevins said creditors who accounted for 99.5 percent
of claims against the rapper accepted his arrangement.
Best
known for his album and movie “Get Rich or Die Tryin,’” the rapper filed for
bankruptcy protection last year soon after losing a lawsuit over a s*x tape. 50
Cent, whose real name is Curtis James Jackson III, had appeared in a wig and
spoke in an artificially high voice as he narrated a video that depicted s*x
acts by Florida woman Lastonia Leviston.
He
had been seeking to mock fellow rapper Rick Ross, who was formerly in a
relationship with Leviston. After she sued, 50 Cent was ordered to pay $7
million in damages. Under the bankruptcy deal, 50 Cent will instead pay her $6
million, a court document showed.
The
biggest claim against the rapper was from investors in Sleek Audio, a failed
headphone venture. He agreed to pay them more than $17.5 million under the
deal.
In
the settlement, 50 Cent said he was putting forward $7.4 million to his
creditors immediately in cash and would generate nearly all the additional
money by selling his home, a Connecticut mansion once owned by boxer Mike
Tyson.
When
he filed for bankruptcy protection, 50 Cent had told the court that his lavish
lifestyle was all a show and that he even borrowed expensive jewelry that he
returned after wearing it in public. He did not appear chastened by the
bankruptcy settlement, however.
He
posted pictures on Instagram of himself flying in a helicopter and, shortly
after the judge approved the plan, wrote: “Oh now I remember where I put that
money.” 50 Cent had earned an estimated $100 million in 2007 when he sold a
stake in enhanced water drink Vitamin Water.
Dudes sold some drugs
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