50 Cent Poses on Instagram With Loads of Cash After Filing For Bankruptcy
Bankrupted rapper 50 Cent is facing federal scrutiny due to a photo he posted on Instagram in which he is surrounded by piles of cash arranged to spell the word “BROKE.” It’s a funny joke. It really is.
But some jokes, no matter how hilarious, are unreasonably risky to make under certain circumstances. You shouldn’t hide in the refrigerator to scare your grandpa with a heart condition. You shouldn’t pretend to almost drop a baby in front of the mother. And you shouldn’t take a picture of yourself surrounded by piles of dollars if you’re in the midst of filing for bankruptcy.
That last one’s for you, 50.
Broke vs. “Broke”
It’s hard for us normies to feel much compassion for celebrities when they talk about money problems (and by “normies,” I’m referring directly to a demographic defined by this lack of pity). We assume, rationally, that there is a good chance they are rich. And don’t be fooled by 50 Cent’s name — it has no correlation to his net worth whatsoever.
Still, it’s pretty common for famous people to make a ton of money then blow it all somehow. In 50 Cent’s case, he spent the last of his fortune trying to pay $7 million to a woman who claimed he posted a video of her having sex online. Since he couldn’t afford it, he filed bankruptcy. This was last year.
Am I saying that 50 Cent has exactly zero dollars? No, but that IS what I thought “broke” meant. The thing about people with money is that their assets doesn’t just account for however many fat stacks they’ve got in the bank — it also includes property, and stuff. According to recent documentation of 50 Cent’s finances, his assets amount to almost $20 million. And while about half of that is money in the bank, the other half is in his Connecticut mansion.
So, now that we’re all on the same page as far as what “broke” means for 50 Cent, we can move on to the part where he spells this word with money.
Cash in Wads, Cash in Stacks
Wednesday’s hearing was prompted by a bankruptcy court official, Holley Claiborn, who wanted to make sure that 50 Cent’s assets and income had been reported correctly after discovering suspicious photos he posted on Instagram last year.
Among these was one photo with cash piles spelling “broke.
Another showed him laying in bed, surrounded by “wads” of cash. And don’t forget what might be the best of them all: cash stacks in the fridge.
It’s fun to take pictures with money. Just ask Scrooge McDuck. But when you’re trying to convince the government that you don’t have any money, practicality should probably be prioritized over fun.
His defense? According to his lawyers, fake money! Marketing props, to advertise the 50 Cent brand. The rapper posted another Instagram after Wednesday’s hearing, this time a selfie, in which 50 Cent holds a bag of M&M’s while, yet again, “wads” of cash peek out from behind the waistband of his pants. The caption read, “I went to court today and all I felt was love. They asked me about money I said I ain’t got none, but if you want some m&m’s here ya go.”
Well, who could say no to that? Court adjourned!
Leave It to the Judge
Judge Ann Nevins, that is. Whether she accepted 50 Cent’s generous offer of classic American treats, she didn’t give him a pass for them. She’s still concerned about discrepencies and such — apparently, the financial statements he filed initially might not be matching up with those filed a month ago.
Also 50 Cent has some limited liability corporations that are sketching out the Judge. She hasn’t been told much about them, which means the court is currently in the dark about the rapper’s income in general.
50’s lawyers aren’t worried. They said they’d file the necessary information and that, yes, 50 Cent has been Honest Abe in regards to his financial situation.
All in all, it’s unclear where this is going. The money in the Instagrams is supposedly fake, according to 50 Cent, and that wouldn’t be surprising because — get this — the entertainment industry uses fake money all the time. Still, there is such a thing as “hiding in plain sight.” All we can do is wait and see if Curtis Jackson III is as broke as he claims.
I had no idea 50 Cent’s real name was Curtis Jackson III. But it’s an incredible name.
Bankruptcy Fraud
This is the crime that 50 Cent is committing, if he’s telling lies about how much dosh he’s got. And it’s not unserious.
In fact, bankruptcy fraud is usually the bastard child of several kinds of fraud. Like perjury! Or lying about taxes and credit cards, making false oaths, withholding assets. Bankruptcy fraud is so named for the situation involving a variety of fraudulent crimes — bankruptcy.
Crimes aside, here’s the thing about bankruptcy: legal representation is crucial. Lawsuits are always exhausting burdens. It’s probably not possible for anybody to adequately represent themselves in the courtroom and also keep up with their day to day lives. At Turner Law Offices, P.C., our team of attorneys has years of experience working with clients across a wide ranges of cases involving bankruptcy. The sooner you find representation, the sooner you can take action, and the more likely you are to reach a successful resolution.
Call today, or go online to set up your free initial consultation, and meet with a skilled lawyer who’s reading and waiting to guide you toward the justice you deserve.
