50 Cent Explains Why He Filed for Bankruptcy [VIDEO]

Curtis "50 Cent” Jackson sat down in an exclusive interview with E! News and discussed the news on Monday (July 13) that he has filed for bankruptcy.

After recently losing a sex tape lawsuit Jackson told E! News:

"I'm taking the precautions that any other good businessperson would take in this situation," he told us at his Southpaw junket. "You know when you're successful and stuff, you become a target. I don't wanna be a bulls eye. I don't want anybody to pick me as the guy that they just come to with astronomical claims and go through all that."

Lavonia Leviston was awarded $5 million by a jury after it was determined that the G Unit head honcho leaked video of her having sex with another man.

Jackson is still allowed to continue his business as an entertainer as well as his other business endeavors all while he reorganizes his finances, said the online entertainment news site.