50 Cent Suing Sleek Audio For $261,000 For Unpaid Debt
50 Cent is taking Sleek Audio to court over an unpaid promissory note worth $261,000.
Fresh off his legal victory yesterday, it looks like 50 Cent is jumping back into the courtroom in a new case. In a recent report from AllHipHop, it appears as if the G-Unit mogul is suing his former headphone partners Sleek Audio.
According to the suit, Fif is seeking $261,000 from the company for a longstanding debt. Sleek Audio, however, is fighting the charges, saying that Fif cut the company out of their business arrangements to create a new line of headphones.
Prior to 2011's botched headphone deal for the "Sleek by 50" wireless headphones, Fiddy claims Sleek Audio signed a promissory note of $285,000 plus interest to be paid before July 31, 2011. Sleek also had the option to pay the Queens rapper after the company earned upwards of $750,000 aggregate gross proceeds.
As of now, however, 50 Cent says he has yet to be paid by Sleek. Fif did receive an arbitration award for the money owed, and is now looking for the court to confirm the award.
DX will keep you updated as more information in the case comes to light.