50 Cent is going to pay up, it’s just going to take a while. The Queens rapper submitted plans to a bankruptcy judge where he outlines how he’ll pay his numerous creditors a total of $23M over five years.
One of those creditors include Rick Ross’ baba mama, who he was ordered to pay $7M after he shared her sex tape on the Internet. However, she’ll be settling for $6M.
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.
50’s plan still needs to be approved by the judge.
Why can’t wait to hear how 50, who admitted to stuntin’ on Instagram with fake cash, spins this one.