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Somewhere, Rick Ross is smiling. 50 Cent has filed for chapter 11 bankruptcy protection. 

Reports the Wall Street Journal:

In court papers filed in the U.S. Bankruptcy Court in Hartford, Conn., Mr. Jackson reported assets and debts each in the range of $10 million to $50 million.

The attorney listed on the bankruptcy petition couldn’t immediately be reached for comment Monday.

The filing comes days after a jury directed Mr. Jackson to pay $5 million to a woman who sued over a sex tape, the Associated Press reported.

No doubt this is a chess move on Fif’s part to avoid paying that $5M he has been ordered to pay for Rozay’s baby mama for leaking her sex tape when beefing with the Miami rapper. But considering that 50 has become known for bragging about his business acumen and financial success, the slander on Twitter is about to be epic.

Needless to say, this story is developing.

Photo: WENN