50 Cent Has Given Himself 5 Years To Pay Back The $23 Million He Owes His Creditors

April 12, 2016 / Posted by:

I guess 50 Cent was able to find a magic bank that could convert all his fake dollars into real ones. Either that, or he wasn’t nearly as bankrupt as he claimed to be, because TMZ says 50 Cent is ready to start paying back his creditors. 50 Cent and his lawyers submitted a proposal earlier today to Judge Ann “No Cameras” Nevins outlining how he plans on paying back the $23 million he owes. According to the documents, he’s going to do it over the span of 5 years. Thanks to my 9th grade level math skills, I know that that works out to $4.6 million a year, or just under $400,000 a month. Shit, that’s a lot of Effen vodka to sell. Get to it, 50!

50 Cent’s proposal mentions his 3 largest creditors and outlines how many monies he plans on stuffing back into their pockets:

– $17.3 million to Sleek Audio. 50 Cent owes Sleek Audio a whole mess of money after Sleek sued 50 back in 2014 for $16 million for “misappropriating trade secrets, breaching his fiduciary duty owed to Sleek, participating in a civil conspiracy, breaching his confidentiality agreement with Sleek, and being unjustly enriched.” I suppose that extra $1.3 million he’s giving them is interest.

– $6 million to Lastonia Leviston. 50 Cent technically owes Lastonia, who you may remember as the woman whose sex tape 50 Cent leaked online without her consent, $5 million plus $2 million in damages. But she has apparently settled on $6 million.

– $4.9 million to SunTrust Bank. For whatever reason, I’m not entirely sure. Since it’s 50 Cent and he’s clearly very bad with money, I’m going to assume that’s $4.9 million in overdraft charges and bounced check fees.

50 Cent is currently waiting for Judge Ann to approve his plan. As for the 17 other creditors he owes money to, 50 Cent’s plan doesn’t get into that. But he might want to go over his numbers again before he starts cutting checks. According to his plan, the money allocated to his top 3 creditors adds up to $28.2 million, which is $5.2 million more than he says he has to pay them back. So…yeah. I’m not saying those creditors are screwed, but I wouldn’t go putting a whole bunch of new Herman Miller office chairs on layaway if I were them.

Pic: Wenn.com

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