Back in April, G-Unit leader 50 Cent was ordered to pay Florida earphone manufacturer Sleek Audio nearly $4.5 million in attorney fees and $12 million in damages over a failed business deal. After he failed to cough up $17 Million dollars, his personal bank account was frozen.
The US District Court in Miami affirmed the whopping award in late March after a three-year legal battle. Sleek Audio and Jackson had partnered to produce the rapper’s line of over-the-ear headphones. The audio company in court documents accused Jackson of stealing the designs of the headphones he asked them conceptualize and manufacture.
Jackson has been selling headphones of a similar design under the 50-Over line with Florida manufacturer SMS Audio since breaking with Sleek in 2011. An arbitrator in July ruled against Jackson and damages in the case were based on SMS net profits over three years. Forbes business magazine in May estimated that Jackson has a net worth of $140 million.
50 Cent reportedly can’t even withdraw that amount from his personal bank account after he has failed to pay a $17 million judgment against him.
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