50 Cent Sues His Business Managers For Botching His Bankruptcy Filing
50 Cent files a lawsuit against his business managers accusing them of botching his bankruptcy case causing him even more debt. Get the scoop.
50 Cent Sues Business Managers Over Botched Bankruptcy
Remember that time 50 Cent attempted to file for bankruptcy to avoid paying Lastonia Leviston that $7 million judgement for posting her sex tape online?
Well, the rapper and actor is now suing his business managers for botching his bankruptcy filing claiming not only did they cost him an additional $200,000 in taxes…they also pocketed $90,000 of his money.
Via Page Six:
On Tuesday night, the rapper filed legal papers in Connecticut Bankruptcy Court saying California-based GSO Business Management LLC “failed to counsel” him fully about his 2015 bankruptcy filing, which came days after a jury ruled that the hip-hop artist must pay $5 million to a woman suing over a sex tape that was posted without her permission.
The papers say that the move meant the rapper was forced to fork over more in taxes.
It is also alleged that GSO “improperly helped themselves to approximately $90,000 of Jackson’s money and paid itself . . . without prior . . . approval.”
The star is seeking full compensation and damages. One of the five GSO managers named as a defendant in the suit is Jonathan Schwartz, who has already been sentenced to six years in jail for embezzling nearly $5 million from Alanis Morissette.
50 Cent’s lawyers Imran Ansari and Arthur Aidala told Page Six in a statement, “GSO completely disregarded the procedures of the bankruptcy court, and improperly helped themselves to Jackson’s money in order to pay themselves.”
Lawd, 50 Cent knows he doesn’t mind filing a lawsuit.