Rapper Curtis “50 Cent” Jackson appears to have successfully navigated a complex legal battle to recover millions in damages stemming from corporate fraud, highlighting the business acumen that has made him one of hip-hop’s most successful executives.
50 Wants His Money
A federal bankruptcy judge has granted Jackson’s Sire Spirits company permission to seize a Connecticut property valued at $1 million, owned by former executive Mitchell Green, who orchestrated a sophisticated kickback scheme that cost the liquor company more than $7 million, according to the Los Angeles Times.
The ruling is a significant victory in corporate asset recovery, demonstrating Jackson’s commitment to protecting his business interests across his diversified portfolio.
Green, who served as director of brand management for Sire Spirits, systematically defrauded the company between 2018 and 2020 through an elaborate scheme involving inflated liquor prices and undisclosed arrangements with French distilleries.
Court documents reveal that Green pocketed approximately $2.2 million in illegal payments, disguising kickbacks from wholesalers as legitimate “agency fees.”
The scheme unraveled when Green became the target of a blackmail attempt related to his fraudulent activities.
Facing exposure, Green confessed to his employer in February 2020, leading to his immediate termination and the initiation of legal proceedings that would span more than four years.
Sire Spirits, which manages Jackson’s award-winning premium alcohol brands including Branson Cognac and Chemin du Roi Champagne, moved swiftly to recover damages through arbitration. The company secured a favorable ruling, and with accumulated attorney fees and legal costs, the final judgment reached approximately $6.3 million by November 2022.
Jackson’s legal team demonstrated a sophisticated understanding of bankruptcy law when Green filed for Chapter 7 protection in March 2023. Rather than allowing the automatic stay to indefinitely protect Green’s assets, Sire Spirits’ attorneys successfully argued that the Connecticut property held no equity value for the debtor due to the substantial judgment against him.
The strategic move proved decisive.
Last week, the bankruptcy judge agreed to lift the automatic stay, clearing the path for foreclosure proceedings under state law. The Westport, Connecticut, home, appraised at $1 million in April, will now be credited against the total judgment, which has grown to approximately $7 million with accrued interest.
This case underscores Jackson’s evolution from recording artist to serious business executive. His Sire Spirits venture represents part of a broader portfolio that includes television production, cryptocurrency investments, and various consumer brands. The successful recovery of fraudulent losses demonstrates institutional-quality governance and legal oversight typically associated with major corporations.
The fraud case also highlights vulnerabilities in the premium spirits industry, where relationships with distributors and pricing strategies are critical to profitability. Jackson’s swift response to the embezzlement and persistent pursuit of recovery sends a clear message about corporate accountability within his business operations.
While $7 million represents a significant sum, Jackson’s diversified business interests and his background from South Jamaica, Queens, have groomed him to weather such setbacks.
He currently has a net worth of $60 million, according to Celebrity Net Worth, built through strategic investments in everything from Vitamin Water to premium television content.
The asset recovery comes at a time when Jackson has maintained active promotion of his Branson Cognac brand on social media, using the hashtag for it in every post (business or otherwise).
Jackson has not publicly commented on the legal victory.
