Young Buck can’t seem to take catch a break! He now has a total of $11.5 million worth of claims against him. $10 million of which comes from his former recording label, G-Unit.
AllHipHop.com reports G-Unit Records has filed a $10 million claim against Young Buck in the event that he breaches his contract with the label, in his ongoing bankruptcy case. 50 Cent has filed a $171,000 claim against Buck because he says he loaned Buck $300,000 back in 2005.
As of right now, Buck has 14 claims against him which total $11.5 million in the bankruptcy proceedings.
Buck’s lawyer, Robin Mitchell, says alot of his money issues stem from the contract he signed with G-Unit Records. “One of the biggest problems with Buck’s situation is not only that it’s so complex, but also that he didn’t understand it,” Joyce told The Tennessean. “The money went in and the money went out and Buck’s universe of knowledge about his financial state is a balance on an ATM receipt. … Buck never knew at one point, at several points, that he was a millionaire.”
This just goes to show, you HAVE to invest the time (and money) to completely understand how much money you have and how to spend it.
And remember Buck is also facing 10 years on a gun possession charge.
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Young Buck Faces 10 Year Bid On Gun Possesion Charges