G-Unit leader 50 Cent reportedly has some serious money problems after having his personal bank account frozen over legal matters.
According to reports, 50’s multi-million dollar payment to a company has put a temporary stall on his account.
50 Cent can’t get 50 cents out of his ATM, because his personal bank account is now off limits.It seems 50 didn’t pay a whopping $17.2 million judgment over a deal he made to market headphones for a company called Sleek Audio. Sleek claimed 50 stole its design and then tried marketing it on his own. The law sided with Sleek, and 50 got hit with the massive judgment.Legal Lesson: If you don’t pay a judgment, the winner can garnish your wages and freeze your bank accounts. (TMZ)
Despite the serious matter, Fif still has access to his business accounts.
A source connected to 50 tells TMZ the rapper has complete access to his business bank accounts … the only account affect by the judgment is his personal. And it’s not like he’s broke. Forbes estimates 50’s worth at $140 million. (TMZ)
Details of Curtis Jackson’s legal battle not ending up in his favor surfaced in early October.
Gangsta rapper 50 Cent charmed law enforcement officers and others when he turned up at the Palm Beach County Courthouse in August, but he didn’t persuade a judge to erase a $16 million debt. In a 15-page ruling, Palm Beach County Circuit Judge Peter Blanc said 50 Cent and his attorneys offered him no good reason to throw out an arbitrator’s decision that the rapper stole trade secrets from an audio company and used them to create his own line of headphones. (Palm Beach Post)
Buzz of the under wraps case hit the Internet back in April .
The new court papers show 50 Cent needs to pay $11.6 million in damages for misappropriation of trade secrets, unjust enrichment and breach of confidentiality; and another $4.4 million in legal fees and expenses. In a nutshell, here’s what happened: An arbitrator in West Palm Beach found that the rapper, whose real name is Curtis Jackson, stole design secrets from Bradenton manufacturer Sleek Audio to make his own headphones, Street by 50 and Synch by 50. (Miami Herald)
Additional Cred: SOHH / Follow Me @therealpaigion On Twitter/IG
