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Rapper files for bankruptcy, then poses with stacks of cash

Some Arkansas readers are familiar with the work of the rapper known as 50 Cent. The entertainer, whose legal name is Curtis James Jackson, is also an actor, and has appeared in multiple movies and television projects. Jackson filed for bankruptcy last year, but is now being called back to court to discuss photos that he posed for and then posted on social media. Those photos show him posing with large stacks of cash.

Jackson filed for bankruptcy after losing a lawsuit involving the release of a sex tape. The woman who sued is now entitled to a $7 million payment from Jackson, but she has been unable to collect any of that money due to the open bankruptcy case. She flagged the photos, which were displayed on Jackson's Instagram account, and brought them to the attention of the judge. One of the pictures shows him arranging stacks of money to spell the word "broke," another has him snuggled up in bed with piles of cash.

Jackson's attorneys assert that the photos are nothing more than the entertainer's attempts to maintain his persona and reputation within the industry. They claim that he is in full compliance with all bankruptcy rules, and that all income he has recently earned has been reported. His creditors, including the woman from the lawsuit, his mortgage company and a business partner on a failed headphones business deal, are asking the court to compel Jackson to turn over his finances to a professional management company until his debts are paid in full.

As the case moves forward, it appears that Jackson will have to show up in front of the bankruptcy judge and explain the photos. At that time, more details about his finances and income may be made public. While some Arkansas readers may feel that the photos are in poor taste, the court could find that they were nothing more than promotional materials, intended to support the notion that Jackson is as successful as every and on track for future success in the entertainment industry.    

Source: Fox Business, "Judge Orders 50 Cent to Bankruptcy Court Over Instagram Photos", Katy Stech, Feb. 19, 2016

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