50 Cent files for bankruptcy
Posted: Jul 13, 2015 5:24 PM CDT
(CBS NEWS) 50 Cent may be lucky if he has 50 cents left to his name, apparently.
The hip-hop star, whose real name is Curtis James Jackson III, filed for chapter 11 bankruptcy protection Monday.
The \"In Da Club\" rapper is seeking Chapter 11 protection in U.S. Bankruptcy Court in Connecticut on liabilities worth between $10 million and $50 million, according to documents obtained by CBS News.
The move comes just three days after a jury directed 50 Cent to pay $5 million to a woman who sued over a sex tape. The woman said he acquired a video she made with her boyfriend and added himself as a commentator before posting it online without her permission.
50 Cent came on the scene in 2003 with \"Get Rich or Die Tryin,'\" which featured the hit \"In Da Club.\" Over the years, he's been involved in various business ventures, including G-Unit records, and two production companies. He's also invested in the mining and precious-metals industries and in the water drinks business.
The 40-year-old star will next be seen in the upcoming boxing movie, \"Southpaw.\"