Bankrupt hip-hop mogul 50 Cent has divulged the stacks of cash in his recent Instagram posts were just props used to keep up appearances.
The In da Club hitmaker, whose real name is Curtis Jackson, filed for bankruptcy in a Connecticut court last July and is reported to owe a slew of creditors a total of USD 30 million, reported TMZ. However, he has been mocking reports of his lack of funds by flaunting wads of cash on his Instagram page since September last year, including one photo in which he spelled out the word ‘broke’ with stacks of USD 100 bills. He also raised eyebrows by showing off snaps of a mansion he is building in Africa. Last month, US Bankruptcy Judge Ann M Nevins expressed her concerns about the social media postings after prosecutors suggested the rapper may not have been completely honest about his assets. 50 Cent’s attorneys insisted he has been “transparent with all creditors”, but he was summoned to appear in court on Wednesday.
The rapper officially responded to the claims in a new court filing, in which he admits the Instagram posts are just to keep up appearances. The news emerges days after his lawyers filed papers detailing his assets, worth an alleged USD 65 million. 50 Cent filed for bankruptcy last year after he was ordered to pay rap rival Rick Ross’ former lover USD 7 million in damages over the leak of her sex tape.
