theJasmineBRAND.com exclusively reports, 50 Cent (real name Curtis Jackson) dropped millions trying to launch his boxing company and now he is coming after his own company for over 2.3 million that he loaned to launch SMS Promotions.
The rapper/actor/business mogul’s boxing company SMS Promotions filed for Chapter 11 bankruptcy last month stating it had between 100k – 600k in debt — only 3 years after it launched strong by signing champion Yuriorkis Gamboa, James Kirkland and Andre Dirrell.
50 Cent’s attorney stated at the time of the filing that the business was dedicated to staying open and only filed for bankruptcy to
reorganize and emerge as a stronger company.
However, it appears that things are a lot worse than originally envisioned for the boxing company. According to newly filed court docs — obtained exclusively by theJasmineBRAND.com — in the bankruptcy SMS Promotions amended the amount of debt they owe to $2.3 million dollars versus the original $100-600k estimate.
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