According to Allhiphop.com, 50 Cent has been granted court approval to seize a Connecticut property owned by a former Sire Spirits executive, who owes the Hip-Hop mogul’s liquor brand more than $7 million after a fraud conviction.
A federal bankruptcy judge lifted the automatic stay on the executive’s Chapter 7 case, allowing Sire Spirits to enforce a lien on the exec’s home. The decision clears the way for foreclosure proceedings under state law.
The executive once served as director of brand management for Sire Spirits. He was found liable for orchestrating a kickback scheme involving inflated liquor prices and secret side deals with French distilleries.
According to court documents, he pocketed roughly $2.2 million in illegal payments between 2018 and 2020.
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