GIST: 50 Cent to Pay $23 Million to Settle Bankruptcy Debts
50 Cent may be ‘bankrupt,’ but the rapper has offered to pay $23 million to help settle some of his debt.
via TMZ:
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.
The plan hasn’t been approved by the judge, but we don’t see why it wouldn’t be.
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