50 Cent News 2015: Rapper Files For Bankruptcy After Sex Tape Lawsuit Scandal [VIDEO]

It's not a good day for rapper 50 Cent.

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On Monday, The Wall Street Journal announced that the rapper, whose real name is Curtis James Jackson III, filed for bankruptcy protection. Court papers reportedly showed assets and debts in the range of $10 million to $50 million.

The attorney on the bankruptcy petition has yet to be reached at this time.

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According to Fox News, Cent was scheduled to testify in a $5 million sex tape trial. Last Friday, a jury came to the conclusion that the rapper apparently publicly posted a private sex video with a woman named Lastonia Leviston who was traumatized by the tape. The site mentioned that she sued in 2010 and said this public video nearly caused her to take her own life.

As the situation with the tape was happening, Cent was supposed to give out his net worth statement as well as state and federal tax returns for the past five years so the jury could go over punitive damages. But this is when the bankruptcy incident came up and it was discovered how much the man had in assets and liabilities.

His creditors are between 1 and 49.

The site also mentioned how Cent tried to avoid the trial last May by filing for bankruptcy, but the judge would not allow this. The case had to continue and the rapper was threatened with sanctions if it was avoided.

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