Rapper 50 Cent is posting pics of himself surrounded by tons ‘o cash on Instagram. This was a red flag. Now Curtis J. Jackson III is headed back to court. As we reported this summer, he filed for bankruptcy in July but claiming that a flood of expensive lawsuits is breaking him while online still bragging about how much cash he has.
Now U.S. Bankruptcy Judge Ann M. Nevins is pretty sure the rapper is not being entirely truthful. Since October, 50 Cent has posted several photographs on Instagram of him playing with piles of cash, surrounded by dozens of stacks of $100 bills (CNN estimated $50,000 in one picture alone!) The killer one is the sticks of Benjamins spelling out
CNNMoney listened to audio recordings of the Hartford, Connecticut hearing and last Thursday, the judge told the rapper’s attorney, James Berman,
“I’m concerned about allegations of nondisclosure or 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,” adding that bankruptcy court is where “an honest but unfortunate debtor can come into court and seek relief.
When that process becomes very public, the need for transparency, I believe, is even higher.“
Friday, the rapper’s legal team issued a statement saying he would show up
“to make sure that all questions have been addressed.
Mr. Jackson has been forthcoming and transparent with all creditors.“
In court papers filed in January by headphone maker Sleek Audio, SunTrust Bank (STI) and 50 Cent’s ex-girlfriend Lastonia Leviston, three claimants in the bankruptcy case who say they’re owed a combined $29 million!
In court documents, the claimants say that 50 Cent has posted pictures of public performances he likely got paid for –even though he hasn’t reported that to the court. They also pointed out that 50 never admitted he owned property that he later disclosed on Instagram, saying:
“My crib is almost finished in AFRICA. I’m gonna have the craziest housewarming party ever.“
Everyone wondered how and why he could claim to be broke? Well, let this be a lesson kids, Instagram is fun but it is apparently evidence admissible in court. 50’s InstaCash account is almost nothing but bragging about all his Benjamins, it seems. (And it looks like EFFEN Vodka must be paying him tons as much as he promotes it with every post.) See here Exhibit A, B, C, D…
(T/Y, Tad; Photos, Instagram; via CNN)