July 14, 2015 – Celebrated American rapper, 50 Cents has filed for bankruptcy in the US. The artiste filed for bankruptcy few days after a jury ruled that he must pay $5million to a woman who sued her for publishing her tape without permission.
The rapper is accused of adding a commentary to a tape that the woman made with her boyfriend and leaked it online.
Filing the case, the rapper swore that he has assets and debts in the range of $10m to $50m (£6.5m- £32m), the Wall Street Journal has reported.
The rapper came into prominence with his 2003 album, Get Rich or Die Tryin.
Chapter 11 bankruptcy protection law in the US allows companies time to re-organise their finances while protecting them from creditor’s demands.
