(EXCLUSIVE) 50 Cent Battling $17 Million Dollar Creditor From Seizing His Assets

The rapper lost against when the federal court denied his attempt to overturn the arbitration decision and was ordered to pay Sleek Audio a total of $16,181,578 which was made up of $11,693,247 in damages, plus $4,488,331 in attorney’s fees.

Then on October 14th, a Palm Beach County judge reportedly granted Sleek’s motion for attorney fees and interest since the original arbitration decision. The judge ordered that 50 Cent’s new amount owed to Sleek Audio comes out to a grand total of $17,247,426. [The amount is the original $11,693,247 award from the arbitrator, $4,488,331 in attorney fees, interest in the amount of $808,703 plus another interest amount totaling $257,144.]

Sleek Audio then filed docs in New York Court demanding a registration of the Florida judgement. They wanted the $17 million judgement to be official in NY, so they could start collecting and seizing assets that 50 Cent may have in the state.

However, 50 headed to court on November 13th and fired back at Sleek’s motion to register the judgement claiming they were untruthful in court docs. In the court documents, he explains that his appeal in Florida is still pending over the judgement the state court issues. He also adds that he still owns 23.8388% of Sleek, which makes it tricky when it comes to the $17 mill he owes.

50 is reportedly seeking a injunction against the company from filing court docs to enforce the  judgement. The rapper says that he has promised not to transfer assets outside his ordinary course of business. Reportedly, 50 claims they fully knew it was not fair to start trying to come after his assets. The judge has yet to make a decision. See the exclusive court docs. 

Follow me: @theJasmineBRAND on Twitter | theJasmineBRAND on Facebook | theJasmineBRAND on Instagram