50 Cent (real name Curtis Jackson) might have to re-think his retirement plan, because the headphone company he reportedly owes $17 million dollars over a legal battle, may potentially seize all his investments and/or retirement money to collect on their judgment — theJasmineBRAND.com exclusively reports.
The 38-year-old rapper has been battling the company Sleek Audio in court for over a year. As previously reported, 50 Cent signed on with Sleek Audio to market headphones but the deal fell through. He then went to another company to produce his own line of headphones.
Sleek sued 50 Cent, and accused him of stealing the design for the headphone that they both had worked on. 50 fired back suing the company accusing them of owing him cash on original deal.
The rapper lost and was ordered to pay a grand total of $17,247,426. The amount is the judgement totaling $11,693,247 + $4,488,331 in attorney fees, interest in the amount of $808,703 plus another interest amount totaling $257,144.
Reportedly, Sleek Audio then headed to NY Court demanding a registration of the Florida judgement meaning 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.
50 Cent went to court on November 13th, firing back at Sleek’s motion to register the judgement claiming they LIED in court docs and the $17 mill judgement is still being looked over by the appeal court in Florida. At that point, the judge had yet to make a decision on 50’s motion to stop the headphone company from coming after his assets.
One day prior, November 12th, Sleek Audio unfazed by 50 Cent’s motion to stop them from beginning to come after his assets, reportedly filed docs in the case stating they have had his bank accounts frozen due to the $17 million they claim he owes them.