50 Cent Declared Bankrupt

On Friday July 10th 50cent was ordered to pay
Rick Ross' baby mama, Lastonia Leviston, $5
million in damages after losing his defamation
case. $2.5 million for distress plus $2.5 million in
damages. In 2010, at the height of his beef with
Rick Rose, he posted Lastonia's sex tape on his
website.
And now that he's been asked to pay up, 50cent,
worth about $150million, has declared bankruptcy.
Lol. Read the full story after the cut...
From TMZ
50cent is down for the count after losing a multi-
million dollar lawsuit ... he's just declared
bankruptcy.
TMZ has confirmed ... 50 filed for bankruptcy on
Monday, 3 days after Rick Ross' baby mama won
a $5 million jury verdict against him.
50 is in a world of financial hurt. A jury awarded
Lavonia Leviston the $5 mil after determining the
rapper intentionally leaked a sex tape in which she
was featured, in order to embarrass Ross. 50 has
been ordered to produce proof of income and
worth so the jury can determine punitive damages.
According to the bankruptcy filing -- a story first
reported by Page 6 -- 50 says his assets are
valued between $10 and $50 million but his
liabilities are also between the same range. On top
of that, 50 lost a court case in which a jury
socked him with a $17.2 million judgment over
ripping off a headphones design.
It's a breathtaking fall .. in May, Forbes estimated
50's net worth at $155 million.