In the case of bankruptcy of 50 cent he was lucky that he was a famous person, as it helped the musician in some way to influence the court, making his debt in the amount of 23 million dollars, he can pay for five years instead of going to jail because of financial fraud and cheating the IRS.
As TMZ reports, a substantial part of the money — 17 million — is designed of Sleek Audio. 6 million Curtis Jackson (real name of rapper) will pay the ex-girlfriend of rapper Rick Ross Lastonia Lewiston, a porn video featuring 50 Cent which once posted on the Internet.
A spokesman for the rapper said that he was pleased with the outcome and thankful to the court that that allowed him to start with a clean slate.
Recall that the trial in this case began with the publication of the picture, which depicts a musician with a huge amount of cash. The IRS has addressed in court with the requirement to explain the origin of funds. Later, the network got the documents about the financial condition of the Curtis. According to the Declaration of assets 50Cent account for more than 64 million dollars, 10 million are brokerage accounts, 44 million in the business, plus the musician owns several properties. In addition, the main musical activity brings him a monthly income of 184 thousand $ 131 thousand he’s getting from his company for the production of home goods, including 49 thousand from the sale of jewelry. But 50 cent said that he is virtually bankrupt, because its state does not exceed $ 16 million.