Young Buck has reached a settlement in his bankruptcy case after he was accused of trying to defraud the trustee overseeing the bankruptcy of more than $35,000 by hiding his royalty statements from ASCAP.
The rapper filed Chapter 13 bankruptcy in Jan. 2020 over debts owed to 50 Cent, his ex-girlfriend, the IRS, and other creditors. In July 2021, Young Buck was sued by the bankruptcy trustee, Erica R. Johnson, for allegedly hiding his ASCAP royalties.
Johnson filed a complaint earlier this week, in order to collect the royalties. After tracking down Buck's earnings, Johnson determined he's received $24,228.14 in royalties since filing for bankruptcy.
Under the terms of the recent settlement, Young Buck must pay back $515 per month until a date that will be agreed upon by both parties. The former G-Unit member will have until the 15th of each month to make the payment, with a five-day grace period.
Young Buck must also turn over royalties from his catalog prior to January 2020. If he defaults on the settlement, the bankruptcy estate will go after the entire unpaid balance.
Source: AllHipHop
