‘Bankrupt’ rapper-entrepreneur, 50 Cent posted another controversial photo of himself posing in front of a mountain of cash just days after he was ordered back to court by a bankruptcy judge.
U.S. Bankruptcy Court Judge Ann Nevins ordered 50 Cent, whose real name is Curtis Jackson, back to court to explain whether or not he is being truthful with creditors about his financial situation after filing for bankruptcy. Nevins said she was “concerned about allegations of nondisclosure and a lack of transparency.” Jackson was ordered to court on March 9th to discuss those concerns.
Financial expert Ira Spiegel said that people who file for bankruptcy should keep money in a special bank account that is created once the case is filed in order to ensure full disclosure, “not in your house, not laying around on your floor.”
A mortgage lender and a partner in a failed headphones business deal recently expressed concern to Bankruptcy Judge Nevins regarding the rapper’s multiple Instagram posts where he is surrounded by thousands of dollars in cash.
Jackson filed for Chapter 11 protection shortly before jurors were scheduled to determine whether he should pay additional damages in a lawsuit filed by Lastonia Leviston in 2010.
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