50 cent has been requested to appear back in a Hartford, Conn. bankruptcy courtroom on Wednesday. In court, the rapper must explain why he posted pictures of him holding wads of cash to Instagram even though he filed for bankruptcy last year. The rapper claimed in a court filing on Tuesday that the money in the pictures was not real.
In July 2015, 50 Cent filed for Chapter 11 bankruptcy protection and reported assets and liabilities ranging from $10-$50 million. The rapper's filing's came after he was ordered to pay Lastonia Leviston $7 million after he posted her sex tape online. The "Get Rich or Die Trying" rapper downplayed the move as a preventative measure and said he was just "taking the precautions that any other good businessperson would take in this situation."
"Walt Disney has filed bankruptcy. Donald Trump has filed bankruptcy," he said at the time. "It means you're reorganizing your finances, but it does stop things from moving forward that you don't want moving forward. I gotta decent legal team. You don't have to worry."
50 Cent has recently been posting pictures to his social media accounts that show him posing with tons of cash, including one post that spelled out "broke" with $100 bills. The U.S. Trustee's office is asking the judge proceeding over the case, Ann Nevins, to appoint an examiner to review all of the rapper's assets.
Even though 50 Cent was seen posing with piles of cash, the rapper insisted that the money was fake. He instead said that he is using the fake cash to keep up his appearance of a rapper.
"As a hip-hop artist and entertainer, it is imperative that I continue to project aspirational goals of success in order to preserve my brand and those I represent," he said in an affidavit filed in federal bankruptcy court Tuesday. "My social media posts are a vehicle to perpetuate the demand for my music and entertainment services."
The rapper said that using humor, like the fake money, was an important part of his brand, but those he owed millions of dollars to were less than thrilled about the pictures. 50 Cent then insisted in court on Tuesday that he was taking the case very seriously.
"Just because I am sensitive to the needs of maintaining my brand does not mean that I am hiding assets or that I have lied on my filings in the bankruptcy case, neither of which is true. I take my responsibilities and obligations imposed by the bankruptcy code very seriously and have truthfully responded to questions from creditors," he said.
A photo posted by 50 Cent (@50cent) on Oct 14, 2015 at 3:17am PDT
