50 Cent Wants Underwear Endorsement Kept Confidential In Bankruptcy
It looks like bankrupt rapper 50 Cent does not want his “competition” to know how much he’s paid to be a spokesperson for high-end Frigo Revolution underwear or Dutch Effen vodka.
Attorneys in the bankruptcy proceedings of rapper Curtis James Jackson III (aka 50 Cent) are asking the judge to grant permission to keep the full financial details of his endorsement contracts confidential. Of note, 50 Cent claimed on Instagram that he was paid $78 million on the deal when it was first signed, but he later admitted to exaggerating his wealth and borrowing the expensive jewelry he frequently wore at a court hearing this year.
Legal experts note that debtors must reveal all of their assets, including endorsement deals, to creditors as a part of the bankruptcy filing. That said, bankruptcy judges can and not infrequently do grant exceptions to this requirement.
Interested in learning which assets must be revealed in a Maryland bankruptcy? Call our office at (410) 484-9000. We would love to answer your questions. We’ll even send you a free a copy of the book Life Changing Lessons from Celebrity Bankruptcies. This book sells for $24.95 on Amazon, but it will be our gift to you today when you call.