Celebrity News

Chess Move: 50 Cent Files For Chapter 11 To Avoid Paying Millions

50 Cent loves kicking people while they’re down. — so it was only natural that Twitter gave him a taste of his own medicine with non stop jokes about his Chapter 11 bankruptcy.

 

But it’s obvious that 50’s filing for bankruptcy was a very calculated chess move. And if anyone has read the 50th Law — you know that 50 likes to put himself in difficult situations.

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He currently has a 17 million dollar judgement against him from Sleek Audio and another 5 million that a jury awarded to Rick Ross’s babymama after 50 went into typical vindictive mode and posted her sex tape online to get back at Rick.

 

No doubt thinking 5 steps ahead — 50 is likely well aware that filing for Chapter 11 just made it a bit more difficult for Sleek Audio & Lastonia Leviston to get their millions. It also throws a monkey wrench in the punitive damages that the jury was in the process of awarding to Lastonia. Now anyone with their hand out has to go through the bankruptcy court to get paid — well played 50.

 

50 issued a statement to let everyone know he is playing chess & those that are trying to take from him are playing checkers.

“I’m taking the precautions that any other good businessperson would take in this situation,” the rapper, real name Curtis Jackson, told E! News exclusively today at his Southpaw junket. “You know when you’re successful and stuff, you become a target. I don’t wanna be a bulls eye. I don’t want anybody to pick me as the guy that they just come to with astronomical claims and go through all that.

 

“Walt Disney has filed bankruptcy. Donald Trump has filed bankruptcy,” the hip-hop star continued to E! News. “It means you’re reorganizing your finances, but it does stop things from moving forward that you don’t want moving forward.”

“I gotta descent legal team,” he added. “You don’t have to worry.”

http://www.eonline.com/news/675758/50-cent-breaks-silence-on-filing-for-bankruptcy-when-you-re-successful-you-become-a-target

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