Via: Source

Probably-past-his-prime rapper 50 Cent created quite the internet-stir yesterday when it became public that he would be filing for bankruptcy protection.

Now, we all know the cliched stories by now of athletes, actors, rappers, or other celebrities blowing through amounts of money that should last for generations, in a span of years. However, it appears that 50 Cent’s specific bankruptcy situation may be a bit more complicated than the classic tale of celebrity money squandering. So what exactly is going on?

50 filed for the bankruptcy protection on Monday in court in Hartford, CT, the same day he was supposed to be in court in New York to determine if he owed damages to a woman named Lastonia Leviston, an ex-girlfriend of Rick Ross. The case was brought in 2010 and stipulates that 50 Cent had violated her privacy by posting a sex tape of hers online. She was seeking $5 million.

The bankruptcy petition was only 5 pages long, and lists 50’s assets and liabilities as valued between $10 and $50 million, non-itemized. The bankruptcy agreement allows the rapper to continue work as an entertainer, and to continue to pursue his other business pursuits, while he ‘pursues an orderly reorganization of his financial affairs. He also hangs onto his massive Connecticut estate.

So, at the end of the day, it looks very much like 50 Cent took these steps to avoid that $5 million dollar pay out, potentially, that is. Savvy move? Ridiculous? What do you think? Let us know in the comments section.