50 Cent reaches a deal with his creditors Wednesday afternoon in a Hartford
federal court that could potentially spring him from bankruptcy. Under
the terms of the agreement, he is on the hook to pay his creditors as
much as 74% as much what he originally owed them. The deal still
requires a stamp of approval from a federal judge.
As of last July, 50 owed his various creditors $28 million, including $18 million to Sleek Audio. That reported number does not include the $7 million settlement with
Lastonia Leviston for narrating her sex tape and posting it online. As a
part of his new bankruptcy agreement, he would lose the right to appeal
that verdict.
50 alleged that the cash he used to spell out the word "BROKE" in an Instagram photo was fake.
Holley Claiborn, U.S. Bankruptcy Trustee for Connecticut, insisted that
his use of allegedly fake cash in the Instagram photo raises concerns
about his "credibility." After the court proceedings adjourned on
Wednesday, he posted a since-deleted Twitter picture of him with wads
cash stashed into his belt and the caption, "I had to go to court today
because."
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