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12/22/2024 06:14:37 pm

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50 Cent's Bank Account Frozen 'After Failing to Pay $17 Million Judgment' to Earphone Maker

50 Cent

(Photo : Reuters) 50 Cent

Rapper 50 Cent can't even withdraw his namesake from his personal account after failing to pay a $17 million judgment placed on him.


According to gossip site TMZ, the 39-year old rapper was court-ordered to pay Sleek Audio, a Florida-based earphone manufacturer, around $4.5 million in lawyer's fees, and $12 million in damages over a failed business deal.

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The US District Court in Miami awarded the figure to Sleek Audio after a tumultuous three-year legal battle.

Since the rapper failed to pay Sleek Audio the amount ordered by court, the said company was able to order that his personal account be frozen.

50 Cent had initially partnered with Sleek Audio to produce his line of over-the-ear headphones.

However, during the deal, the company accused the star of plagiarizing the headphones designs they conceptualized and manufactured after he broke ties in 2011. After their failed business deal, 50 Cent started selling similarly-designed headphones with SMS Audio under the 50-Over line.

The figures to be awarded to Sleek Audio are based on the net profits SMS and 50 Cent accumulated in the last three years.

The rapper-producer's legal representative shared with TMZ that they are currently appealing the judgment, saying that Sleek Audio has been "desperately attempting" to freeze any of the star's accounts they can locate. Despite the company's attempts, 50 Cent's attorney shared that his assets are "appropriately protected."

According to Forbes magazine, 50 Cent has a net worth of $140 million.

Aside from his headphone line, the rapper also owns a clothing company and a highly successful record label named G Unit Records.

The star has also partnered with Glacéau on its vitamin water, making for himself a whopping $100 million after Coca-Cola purchased the brand in 2007 for $4 billion.

The performer is currently starring in the upcoming sports flick "Southpaw" alongside Jake Gyllenhaal, Rachel McAdams and Tyrese Gibson.

However, despite all the success, 50 Cent can't even withdraw 50 cents from his account.

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