50 Cent’s Instagram Posts Create Questions for Bankruptcy Court
Curtis J. Jackson III, also known as “50 Cent” is, quite ironically, having some problems with money. In July, he filed for bankruptcy. But despite that fact, he has consistently been posting pictures on Instagram and other social media sites that feature him posing with stacks of money. Some even poke fun at his financial situation–in one he arranged the stacks of cash to spell the word “broke.” But in light of those pictures, U.S. Bankruptcy Judge Ann M. Nevins is calling him back in to bankruptcy court to explain himself.
Check out some of the pictures in question for yourself:
— Esquire Magazine (@esquire) February 21, 2016
— Business Insider (@businessinsider) February 20, 2016
Based on those photos, Nevins stated at a hearing on Thursday her concerns over the photos, saying:
I’m concerned about allegations of nondisclosure and a lack of transparency in the case. There’s a purpose of having a bankruptcy process be transparent, and part of that purpose is to inspire confidence in the process.
She also told 50 Cent’s lawyer: “When that process becomes very public, the need for transparency, I believe, is even higher.”
50 Cent’s finances are so contentious because he owes a significant hunk of cash–$7 million–to his ex-girlfriend Lastonia Leviston over a sex tape dispute. He also owes about $18 million total to a former business partner and to his mortgage lender. Leviston was actually the person who brought the judge’s attention to the posts. The many people to whom 50 Cent owes money also pointed out that he has had a few large performances since declaring bankruptcy, and hasn’t disclosed the amounts he made as a result.
50 Cent’s lawyers claim that all of the rapper’s income has been reported, and that the pictures are just to keep up his public image on social media. But 50 Cent is going to have to explain himself in court–this is just another lesson that what you put on social media can come back to hurt you.