Tags: 50 cent | account | frozen | judgment

50 Cent's Account Frozen for Nonpayment of $17.2M Judgment: Report

Image: 50 Cent's Account Frozen for Nonpayment of $17.2M Judgment: Report
(Christopher Polk/Getty Images, file)

By    |   Tuesday, 02 Dec 2014 05:53 PM

Rapper 50 Cent’s personal bank account was frozen after the entertainer failed to pay a $17.2 million judgment against him, TMZ reported.

The judgment sprang from a lawsuit in which Sleek Audio claimed 50 Cent stole its design for headphones and tried to market it on his own, TMZ said. The rapper’s business accounts aren’t affected.

An attorney for 50 Cent told TMZ the judgment is being appealed.

The lawsuit followed a failed business deal in which Sleek Audio partnered with 50 Cent, whose real name is Curtis Jackson III, to produce the rapper's line of headphones, the Daily Mail reported.

The rapper also has a record label and clothing company.

“Mr. Jackson is confident that he will prevail on his appeal and that when the case becomes fully pubic, everyone will know exactly why he felt compelled to fight the ruling. In the meanwhile, it should come as no surprise that Mr. Jackson's assets are appropriately protected for someone of his stature,” attorney Stephen J. Savva said, according to the Daily Mail.

His net worth is estimated at about $140 million.

Twitter users commented on the story.





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Rapper 50 Cent's personal bank account was frozen after the entertainer failed to pay a $17.2 million judgment against him, TMZ reported.
50 cent, account, frozen, judgment
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2014-53-02
Tuesday, 02 Dec 2014 05:53 PM
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