Rapper 50 Cent got a rude shock when he was called to court for his Instagram photos. Despite filing for bankruptcy under Chapter 11 in summer, he had been posting photographs on Instagram, posing with huge stacks of cash. This raised suspicion and he was ordered to appear in bankruptcy court to explain his actions since bankruptcy is a legal way out for people who have been unfortunate enough to suffer huge irreversible financial losses. Transparency while filing is one of the important points for an individual to get relief. However, with photographs like the one posted by the rapper, 50 Cent’s asset disclosure seemed anything but transparent!
Tantalizing photos of the rapper lounging on a bed surrounded by bundles of cash; refrigerator filled with money and stacks of $100 bills being used to spell “BROKE” apart from online reports of him buying a swanky new house in Africa were the reasons for him being called to explain his actions in bankruptcy court. Since a person who fails to disclose his assets while filing for bankruptcy can lose more than he intended, it is better, to be honest with your lawyer. In case you are looking for a bankruptcy lawyer in Los Angeles Contact Recovery Law Group at phone number – (888-297-6203).
In Rapper 50 Cent’s case, the lawyer clarified that the photos, which probably were from an earlier occasion and for promotional purposes (brand image), were used by people who were out to smear his reputation in order to cough out money. A disgruntled women who wanted to collect $7 million from the rapper due to a sex-tape dispute but was unable to, joined hands with a disgruntled partner of a failed headphone deal and 50 Cent’s mortgage lender. The purpose of their association was an attempt to get an independent financial professional to manage 50 Cent’s money till the time he could pay back $30 million to his creditors. Thanks to his bankruptcy lawyer, 50 Cent was able to dodge all these allegations. Needless to say, having a good lawyer and a transparent relationship with them can save you from being unceremoniously dragged to court.