The rapper has his bank account frozen after he failed to pay $17 million in judgment against him as the results of a lawsuit earlier this year.
- December 2, 2014
AceShowbiz -
50 Cent reportedly cannot draw any money from his bank account after it was frozen. According to TMZ, he had his personal account frozen because the rapper failed to pay $17.2 million in judgment to Sleek Audio after he lost a lawsuit against the company earlier this year. A source additionally said the rap mogul still had access to his business accounts.
Headphone company Sleek Audio previously claimed the rapper stole their design and promoted it with SMS Audio. A judge then decided that Cent should pay the company for the damages as well as the legal fees.
An attorney for 50 Cent has responded to the story that the account was frozen. The attorney told the celebrity entertainment site that they were filing an appeal against Sleek Audio. The attorney also commented that the manufacturer was "desperately attempting" to get money from his client. The rapper's legal team also gave confirmation that his assets were "appropriately protected."
Earlier this year, Forbes estimated that 50 Cent had about $140 million in earnings from entertainment activities and various endorsements. He is next seen in boxing drama "Southpaw". The Antoine Fuqua-directed flick, released sometime next year, also stars Jake Gyllenhaal, Rachel McAdams, Forest Whitaker and Naomie Harris.
