Rapper and actor 50 Cent has officially filed for Chapter 11 bankruptcy protection from the U.S. Bankruptcy Court in Connecticut, with liabilities estimated to be between $10 and $50 million.

50 Cent, also known as Curtis James Jackson, has been involved in a court debate over a sex tape which he allegedly did a voice over for and shared online without permission. Lastonia Leviston, the woman in the the video, demanded $5 million in compensation, which Jackson paid for this weekend.

The origins of the debacle possibly stem from Jackson's beef with rapper Rick Ross, who has a child with Leviston.

Jackson might be in a financial toss-up, but he does have several upcoming projects, including the upcoming boxing film "Southpaw."

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