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50 Cent’s Manager Affected By Madoff’s Ponzi Scheme

Wednesday Jan 28 2:29 PM CST posted by xxl staff

Chris Lighty, 50 Cent’s manager and head of Violator Management, is one of the many victims of Bernard Madoff’s infamous $50 billion Ponzi scheme.

As previously reported, Madoff took large sums of money from several high profile entertainers and executives, but kept the cash for himself rather than investing it as promised. While it has been confirmed that Lighty has indeed been hit from the financial scam, he’s remained mum, according to the New York Post. “Nothing to talk about,” he said when asked to what extent he’s been affected. “It’s not life-threatening. Not worth the ink you would waste.”

Listed among Crain’s 2008 “Forty under 40” list of New York business rising stars, Lighty has helped his Violator artists – which include 50, Missy Elliott, Busta Rhymes, LL Cool J and Diddy - create deals worth more than $200 million. He also recently formed the Brand Asset Group with Warner, to create business opportunities with the label’s roster.

Lighty isn’t the only big name affected by Madoff’s ploy, director Steven Spielberg, actor Kevin Bacon and Dreamworks executive Jeffrey Katzenberg are also among the reported victims. – Elan Mancini

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This entry was posted on Wednesday, January 28th, 2009 at 2:29 pm and is filed under News
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6 Comments »

January 28th, 2009
at 2:41 pm

paisley says:

inb4jewsconspiracy

 

January 28th, 2009
at 3:12 pm

Mario says:

I Saw this on thisis50.com like two hours ago and when the hell am i getting my fucking march issue

 

January 28th, 2009
at 3:28 pm

EmCDL says: Subscribed to comments via email

Man fuck XXL bring back Scratch Magazine!!!

 

January 28th, 2009
at 3:29 pm

EmCDL says: Subscribed to comments via email

Bring back Scratch Magazine!!!

 

January 28th, 2009
at 4:22 pm

brand-new says:

i wish i could pull a billion dollar scam!

 

January 29th, 2009
at 2:47 am

drox says:

“It’s not life-threatening. Not worth the ink you would waste.”
hahahahaha, I guess 50 does make money!

 

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