Rapper 50cent Wins $14.5m In Lawsuit Against His Lawyers
50 Cent just got a HUGE financial helping hand in his bankruptcy case — his old lawyers will cough up $14.5 million after a sweet settlement deal.
50 had sued his team of attorneys for malpractice, insisting they did a shoddy job repping him against Sleek Audio. You’ll recall, Fiddy lost that case and owed Sleek a ton of cash.
Rather than go to trial, the lawyers have struck a deal with the rapper … agreeing to pay him the $14.5 mil. Not that Fiddy will be able to spend it — it’s already spoken for due to his bankruptcy.
According to docs filed in that case … 50 still owes $23 million to his creditors, including $17 mil to Sleek — so the settlement money’s likely going straight into their pockets, not his.
50 Cent has a plan to satisfy some of the creditors in his bankruptcy case — and it involves him forking over $23 million.
50 and his lawyers submitted their plan to a bankruptcy judge, and according to the docs … he will pay the $23 mil over the next 5 years.
The money will be spread out over his many, many, many creditors. In the docs, he mentions settlement amounts with 3 of the biggest ones. The plan is for Sleek Audio to get $17.3 million and SunTrust Bank’s in for about $4.9 mil. Meanwhile, Lastonia Leviston — who got a $7 million judgment in the sex tape case — has settled on $6 million.
In addition to the $23 million commitment, 50 says he’s liquidating some assets to cover the debts.
This still has to be approved, but at least he’s got a plan.
The bankruptcy judge still needs to sign off on the deal.
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