On Monday night, Fiddy stopped by Ace of Diamonds LA, a strip club in West Hollywood. He clearly isn’t too worried about paying off his debtors, because he dropped about $5,000 at the club that evening.
50 Cent had just reached an agreement in court to follow a payment plan to pay off his creditors. The rapper owes over $23 million, which he planned to pay off by the year 2021. This would equal payments of about $400,000 a month.
His biggest creditor, Sleek Audio, is scheduled to receive $17.3 million. Other payments will go to SunTrust Bank and Lastonia Leviston, who agreed to settle her sex tape case against Fiddy for $6 million.
The judge hearing his case agreed to this plan just hours before 50 Cent was spotted at the strip club.
Fiddy originally filed for bankruptcy in 2015, but then a few months later had some questions arise about the honesty of his situation. He posted photos on his Instagram surrounded by stacks of money, prompting the judge to ask him where the money came from.
50 Cent responded that the money was fake and that he was posting images like that to keep up his image.
He submitted a written declaration that stated, “Hip-hop culture is widely recognized as aspirational in nature. The standard by which artists and fans engage is commonly tied to money, jewelry, products and advertising for social media.
“Just because I am sensitive to the needs of maintaining my brand does not mean that I am hiding assets or that I have lied on my filings in this Bankruptcy Case, neither of which is true.”
Perhaps when you already owe $400,000 a month, an extra $5,000 for strippers is just a drop in the bucket.