50 Cent is bankrupt, and like any insolvent rapper, took to Instagram to post a few photos of just how impoverished and penniless the 40-year-old former drug dealer is. To wit: Sitting forlornly on his hardwood, scratching out the word “broke” with fat stacks of dough. Curtis James Jackson III, how utterly impoverished you are.
Cent’s senseless Instagram pics (there are other inane photos of the rapper hanging out with numerous Mr. Ben Franklins) now has the full attention of U.S. Bankruptcy Judge Ann M. Nevins, who has ordered Jackson back to court to explain his alleged destitution.
Reports CNN Money on Feb. 20: “Curtis J. Jackson III filed for bankruptcy in July. He claims that he still makes millions, but that a flood of expensive lawsuits is killing him. Since October, 50 Cent has posted several photographs on Instagram of him playing with cash.”
Check out this photo of 50 Cent’s mini fridge, stocked with essentials – American cheese, ham, condiments, vodka and bread, though not the kind you eat. Mini hills of cash are piled up on the top shelf. 50 Cent captioned that with: “Gotta keep a cool little $tash and some Effen Vodka, Happy Holidays.”
Here’s another “Broke” photo, showing the rapper with his head hung low as he mulls over his poverty next to his white, leather couch and stunning penthouse views. Or this photo of the Jamaican rapper sitting in bed, cuddling his money wads and flipping the channels. That one was captioned with: “Ok I found my legs, but I can’t find nothing to watch on TV.” He also claimed no real property ownership in court, but shortly thereafter posted a message on social media telling all: “My crib is almost finished in AFRICA. I’m gonna have the craziest housewarming party ever.”
“I’m concerned about allegations of nondisclosure and a lack of transparency in the case,” Judge Ann Nevins said Thursday during a hearing in Hartford, Conn. 50 Cent filed for Chapter 11 bankruptcy protection last July, declaring his debts amassed up to $28 million and that he “hadn’t got no dimes to spare.”
“There’s a purpose of having a bankruptcy process be transparent, and part of that purpose is to inspire confidence in the process,” Nevins continued. “When that process becomes very public, the need for transparency, I believe, is even higher.”
In other words – the guy that produced a 2003 album called “Get Rich or Die Tryin” is lying through his gold teeth. He’s been summoned back to court on Friday Feb. 26. Jackson’s legal team issued a statement saying the rapper would indeed show up “to make sure that all questions have been addressed.”
According to the Wall Street Journal, the Instagram photos were “flagged by Lastonia Leviston, who won $7 million in a sex-tape dispute but hasn’t been able to collect that money since Mr. Jackson filed for bankruptcy last summer.” Since then, two other unpaid creditors have also taken notice – a mortgage lender and a partner in a failed headphone deal.
Jackson’s lawyers said the photos were included in the court filings in order to “disingenuously smear” 50 Cent, and that the images are simply efforts made by the struggling rapper to keep his image buoyed.
“By including pictures from Mr. Jackson’s social media accounts and implying that he is hiding assets… the creditors intentionally ignore that Mr. Jackson is in the entertainment and promotion business and must maintain his brand and image (or those of the products he is promoting),” his lawyers said.
Perhaps someone should tell 50 Cent to lay off Instagram for a while.