50 Cent’s Assets And Personal Bank Account Frozen – Tha Wire

Today in Tha Wire, 50 Cent's battle with Sleek Audio heats up as the headphone giant freezes his assets and Bill Cosby steps down from Temple University’s board of trustees.

AllHipHop reports, 50 Cent’s gonna find it hard to get at his money in the bank for a little while.  The G-Unit general has been in a bitter legal battle with his former business partners, Sleek Audio.  Sleek filed suit against Fif, accusing him of stealing their design and using it for his new headphone brand SMS Audio.  TMZ reports, Sleek Audio is going after 50’s money literally, by trying to seize his assets in New York, including putting a freeze on his personal bank account.

It’s not looking good for 50 at the moment.  According to TMZ the case already went into arbitration in Florida and Sleek actually won a judgment against 50 to the tune of $16,181,578.  From there the case was handed over to a Palm Beach County Circuit judge, who not only agreed with the decision, but raised the amount to $17,247,426  to include interest and legal fees.

Evidently Sleek wasn’t satisfied with just a judgment, they wanna make sure they get their money, so they filed docs in New York  in order to seize 50’s property and assets in that state.   The Queens native is working to keep creditors from doing just that, by reportedly gone back to court and filing some papers of his own.

In the meantime, Fif’s lawyers told TMZ they are appealing the Sleek judgment and claim 50’s assets are “appropriately protected.”

Find out much more on this below inside Tha Wire.

Finally it looks like there’s no end to the fallout behind the Bill Cosby rape allegations.   AllHipHop revealed, the legendary entertainer has resigned from Temple University’s board of trustees due to the controversy.   Cosby has been a member of the prestigious universities board since 1982. The 77-year old attended Temple University from 1961-62 on a track and field scholarship. He ended up leaving early to pursue his comedy career, but returned a decade later to earn his bachelor’s degree.

The Cos, said in a recent statement, “I have always been proud of my association with Temple University.  I have always wanted to do what would be in the best interests of the university and its students.”

AllHipHop reports, stepping down wasn’t entirely Cosby’s idea.  An there's more details on that below inside Tha Wire.  Meanwhile, student body president,  Raymond Smeriglio, explained the accusations brought against Cosby “got to the point where the reputation of the institution started to get dragged down with (them).”  So a separation was inevitable.

Amid all the controversy songstress Jill Scott took to Twitter and came to Cosby’s defense tweeting, “It’s hearsay in a court of law. Tis all. Trust. If this is true, he’ll face his due just like everyone,” among other things.  FYI Ms. Scott  was awarded an honorary degree from Temple earlier this year and like many, has deep respect for America’s favorite dad.   However other than Raven Simone, the Philly songbird is one of the very few, who will openly go to bat for him at this time.

For more details on all of today's news, listen to Tha Wire now for the scoop.  Plus, find out what celebs are celebrating birthdays today.