50 Cent In Trouble With DoJ Over Instagram Cash Photos

0
50 Cent In Trouble With DoJ Over Instagram Cash Photos
Via Instagram

The 40-year-old entertainer 50 Cent could be in hot water after posting a series of photos on social media flashing piles of cash.

While that might not seem like particularly outrageous behavior for a rap star like 50 Cent, problems arise when you consider the fact that the entertainer recently declared bankruptcy, writes Katy Stech for The Wall Street Journal.

50 Cent might regret posting Instagram photos showing piles of cash

Now a Justice Department watchdog has called for an investigation into 50 Cent’s financial affairs, claiming that his cash photos “are potential evidence of serious misconduct.” The watchdog went on to claim that the posts could be evidence that he “lives a lavish lifestyle” and have “invited a public perception that a bankruptcy case is an appropriate vehicle for publicity without sufficient financial accountability.” Documents have been filed in U.S. Bankruptcy Court in Hartford, Conn.

Odey’s Brook Fund Posted A Commanding Q3 Return On Long And Short Sides [EXCLUSIVE]

Eurekahedge Hedge Fund Index invest Value InvestingOdey's Brook Absolute Return Fund was up 10.25% for the third quarter, smashing the MSCI World's total return of 2.47% in sterling. In his third-quarter letter to investors, which was reviewed by ValueWalk, James Hanbury said the quarter's macro environment was not ideal for Brook Asset Management. Despite that, they saw positive contributions and alpha Read More

50 Cent, whose real name is Curtis Jackson III, has also been summoned to court to explain his posts to Judge Ann Nevins. The investigation request will be considered at a court hearing on March 9.

Among the photos posted since he declared bankruptcy in July are images showing piles of cash in Jackson’s fridge and thrown across his couch. U.S. Trustee William Harrington said that the images are “openly contemptuous of the bankruptcy code and process.”

Officials call for investigation into spending habits

“The bankruptcy system depends on full disclosure by a debtor and the public confidence in the bankruptcy system erodes when allegations of misconduct are not investigated,” he added.

People who file for bankruptcy are expected to provide evidence of earnings and spending during their case. A potential investigation would look into how much money Jackson has made since July, and how he has been spending.

Jackson declared bankruptcy after being ordered to pay $7 million to Lastonia Leviston, who won damages after Jackson released a sex tape of her on his website in 2009. Leviston is the ex-girlfriend of rapper Rick Ross, with whom Jackson was engaged in a “rap war” at the time.

50 Cent shot to fame on the back of the song “In Da Club” in 2003. He went on to sell over 22 million albums, and has also acted in films such as the recent release “Southpaw.” He lives in a mansion once owned by boxer Mike Tyson, which reportedly has 21 bedrooms.

Updated on

While studying economics, Brendan found himself comfortably falling down the rabbit hole of restaurant work, ultimately opening a consulting business and working as a private wine buyer. On a whim, he moved to China, and in his first week following a triumphant pub quiz victory, he found himself bleeding on the floor based on his arrogance. The same man who put him there offered him a job lecturing for the University of Wales in various sister universities throughout the Middle Kingdom. While primarily lecturing in descriptive and comparative statistics, Brendan simultaneously earned an Msc in Banking and International Finance from the University of Wales-Bangor. He's presently doing something he hates, respecting French people. Well, two, his wife and her mother in the lovely town of Antigua, Guatemala. <i>To contact Brendan or give him an exclusive, please contact him at [email protected]</i>
Previous article Policy And Legal Perspectives On Initiatives To Restrict End-Users’ Default Rights Against Big Banks
Next article The Road Less Traveled: Special Situations Investing [Slides]

No posts to display