As we learned yesterday, 50 Cent has reached an agreement with his creditors to pay back 74 percent to 92 percent of what he owes them within five years.
This means Rick Ross’s baby mama, his former headphone partners, and the rest would get back about 3/4 of the over 30 million he owes if he’s able to produce the cash quickly. If it takes Fif time to get all the money together (and it probably will) that percentage creeps toward the 92.
The deal still might not go through, however, because the bankruptcy court thinks 50 hasn’t been forthright with his finances, and has also disrespected the process by posting (Fif says fake) money on Instagram.
We don’t take issue with those postings, U.S. Bankruptcy Trustee for Connecticut Holley Claiborn explained. “It has a lot to do with the perceptions of the public. The concern is that he’s sent a message that the process is not serious, that you can mock it and do whatever you like.
But the court’s warning didn’t stop 50 from continuing to post cash — and continuing to troll — on IG.
Update: TMZ has audio of Wednesday’s bankruptcy hearing. In it, Fif’s lawyer says Fif has to keep posting money one IG even though he’s bankrupt because his fans are poor.
“But if you look at Mr. Jackson or other hip-hop artists, they’re aspirational. They come from poverty, many of their fans are poor. Fans want their favorite rapper to be rich. Money is important to them. And you look at his pre-bankruptcy persona, look at some of the videos – money is important. Filing the bankruptcy, by definition, presented a real challenge as to how it’s gonna be handled.”