Many people share intimate details of their lives on social media — vacations they take, places they shop, purchases they make, and even what they wear. Unfortunately, this form of sharing can sometimes have legal repercussions. For example, angry posts about your soon-to-be ex-spouse can find their way into your divorce case. Similarly, social media posts that depict a financial situation that is different from what you have claimed in bankruptcy filings could also cause serious problems. In fact, a high-profile example from a few years ago shows just how difficult things can be when you are not careful on social media.
Bankruptcy Filing and a Social Media Blunder
In 2015, the rapper 50 Cent filed for Chapter 11 bankruptcy protection. Right in the middle of it all, he posted several Instagram photos with loads of cash — one of a stack of money in his freezer, one in which bills were arranged to spell the word “Broke,” and one of him surrounded by stacks of cash on a bed. The rapper claimed the bills were props, such as those used in music videos, but his creditors and the judge were far from amused.
According to the New York Times, 50 Cent stated that the postings were essential to maintaining his appearance and securing his future. When his history of merchandising deals and “living large” were mixed with a number of failed business ventures and several lawsuits, it was understandably difficult to determine whether he was hiding assets or telling the truth. Because of this, his creditors asked for a reevaluation of his assets, and a judge pulled him back into court to speak about the matter.
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