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50 Cent Files for Bankruptcy

Rapper 50 Cent, whose real name is Curtis James Jackson III, has filed for bankruptcy.

The musician listed assets and debts each in the range of $10 million to $50 million in court papers filed in the U.S. Bankruptcy Court in Hartford, Conn., on Monday.

“This filing for personal bankruptcy protection permits Mr. Jackson to continue his involvement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganization of his financial affairs,” 50 Cent’s attorney, William A. Brewer III, partner at Brewer, Attorneys & Counselors, said in a statement to Variety.

Brewer said 50 Cent’s business ventures will continue unaffected in the ordinary course during the pendency of the chapter 11 case.

The filing comes days after a jury ordered him to pay $5 million to a woman who sued over a sex tape that was posted without her permission, according to the Associated Press, and two months after his boxing promotions company, SMS Promotions, filed for bankruptcy.

50 Cent, who produces and stars in the Starz show “Power,” earned $100 million after selling his stake in VitaminWater to Coca-Cola in 2007.

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