Rapper 50 Appears in Bankruptcy Court - NBC Connecticut

Rapper 50 Appears in Bankruptcy Court

The rapper filed for bankruptcy last month after a New York City jury ordered him to pay $7 million to a woman who said he posted online a sex tape she made with a boyfriend.

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    50 Cent went before the U.S. Bankruptcy Court in New Haven, Connecticut on Wednesday, where he broke down his spending and assets and filed for personal bankruptcy protection.

    The rapper, born Curtis James Jackson III, owns seven cars valued at more than $500,000 and pays $72,000 a month to maintain his Connecticut mansion, according to bankruptcy court filings in Connecticut. He claims his assets are worth $25 million.

    His businesses, however, posted losses of more than $10 million last year and in 2013.

    50 Cent filed for bankruptcy last month after a New York City jury ordered him to pay $7 million to a woman who said he posted online a sex tape she made with a boyfriend.

    His Farmington property is his most valuable. It's listed in papers filed Monday in a Connecticut court at nearly $8.3 million. Cars logged in the court filings include a 2010 Rolls Royce and a 1966 Chevrolet coupe.

    The filings show losses of more than $10 million in 2013 and 2014, with expenses outstripping income and losses posted in 50 Cent's records, adult film and G-Unit Brands businesses.

    As of July 13, the businesses were in the black.

    His expenses of $108,000 a month include $5,000 for gardening.

    50 Cent has a monthly income of $185,000, mainly from royalties and interest on his investments. The court filing says he also owes money to his stylist, his barber and his fitness coach.

    His album "Get Rich or Die Tryin'" helped make him one of the world's best-selling artists. 

    50 Cent and his attorney filed for personal bankruptcy protection before a board of trustees in court Wednesday.

    The rapper says he has not been able to pay any of his debt since filing for bankruptcy.

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