6 ways 50 Cent says he tricked the world into believing he was rich

Rapper 50 Cent Files for Bankruptcy as Finances Hit the Rocks

In the wake of filing for bankruptcy, rapper Curtis Jackson, aka "50 Cent," has pulled back the curtain on his seemingly lavish lifestyle.

Before filing for bankruptcy, 50 Cent was hit with a court order to pay $5 million to Lastonia Leviston. The woman had won the payment in court after the rapper allegedly released a sex tape of her to embarrass the rapper's nemesis, Rick Ross, who had fathered one of her children.

Leviston's lawyers believed 50 Cent's bankruptcy was a way to avoid paying Leviston, so they took him to court again. But on the stand, 50 Cent indicated his wealth was little more than an illusion. In other words, he merely he led the public to believe he was a baller. Jackson says he did this because the whole music industry is about aspiring to something greater.

Here are six ways 50 Cent says he embellished his hip-hop lifestyle, according to a transcript of the testimony he gave in the Leviston lawsuit:

1. He recycled his gold chains.

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SXSW was fun shout out to hang W/ #smsaudio

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50 Cent claims he could barely fill a jewelry drawer, let alone a whole jewelry chest. He said that he only actually owns "two or three chains" at "$30,000, $40,000" each. But, how does he make it seem as if he has more? The rapper says he takes those chains to a jeweler who can transform them into new, unrecognizable pieces of bling.

Lawyer: How many chains have you got?
Jackson: Two or three chains.
Lawyer: I'm sorry?
Jackson: Two or three different chains. What I do is take the jewelry back to the jeweler and they redo the jewelry with the same gold from the last thing. During album cycles I change, so you'll see a whole lot of stuff. But I take it back and have them change it into new stuff.
Lawyer: You have 30 to $40,000 in gold chains?
Jackson: Yes.

2. He traded in cars to get new ones.

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Times are hard out here LMAO #FRIGO #SMSAUDIO

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Ten days before his testimony, interviewer Nick Grimshaw said 50 Cent bought a $300,000 Rolls Royce on a whim right before an interview. (Above, 50 Cent makes light of his bankruptcy with photo of himself with a smart car.)

But, according to 5o Cent's testimony, that story wasn't exactly true:

Lawyer: It is a false story in the sense it never happened?
Jackson: No, I got the car. But I took two cars that I had that back.
Lawyer: So the story that came out, you know the story, which is you just decided you just had to get a Rolls Royce and you bought one --
Jackson: That is the guy's interpretation of it.

3. He doesn't actually own all those cars.

50 Cent once took Forbes magazine on a tour of his car collection, which consisted of three similarly painted blue vehicles, including a Range Rover, a Lamborghini Murcielago, a Bentley Mulsanne, and a Yamaha motorcycle. 50 Cent had really become good at presenting a lavish, mogul lifestyle to the press. But here's what he says the truth about his cars really was:

Lawyer: Have you filmed yourself showing all your cars or showing a lot of cars that you now say aren't yours, but have you made films showing off all the cars that you own?
Jackson: You mean like MTV "Cribs," maybe.
Lawyer: I mean like you standing in front of a camera saying this is my Lamborghini and this is my Rolls and this is my Ferrari?
Jackson: I did it once.
Lawyer: You did that?
Jackson: Yes.
Lawyer: Ferrari, Lamborghini, Rolls, Chevy Blazer or Suburbans, I'm sorry, they were specially equipped and cost a few hundred thousand dollars each?

Jackson: Yes.
Lawyer: You did all that and said those cars were yours?
Jackson: Yes. At that time, those cars were rented.

Below, watch 50 Cent show off his rented cars on another TV show:

4. He says he never actually placed a $1.6 million Mayweather/Pacquiao bet.

Floyd Mayweather Manny PacquiaoOn March 3, 50 Cent talked to "The Breakfast Club" morning show on Power 105.1 in New York and said he was betting $1.6 million Floyd Mayweather Jr. would defeat Manny Pacquiao in the boxers' much-hyped bout that happened in May. Mayweather did win, and though Jackson has said he won the bet, even on "Conan" (video of that portion of the interview has since been taken off the show's website), according Jackson's testimony he never placed the bet.

Lawyer: Is it correct, sir, that you publicly stated -- and you said it on Conan O'Brien the other night -- that you bet 1.6 million dollars on Floyd Mayweather to win the fight that took place in early May?
Jackson: Yes.
Lawyer: You said you won that bet?
Jackson: Yes.
Lawyer: You won one million dollars?
Jackson: No, I didn't say that.
Lawyer: You didn't say that on the Conan show?
Jackson: No.
Lawyer: Okay. So what did you win on that bet?
Jackson: I didn't win anything on that.
Lawyer: Huh?
Jackson: I didn't win anything on that, actually.
Lawyer: Did you make the bet?
Jackson: No.
Lawyer: You never made the bet?
Jackson: No.

5. He doesn't own flashy watches.

Jackson has flaunted expensive watches on his Instagram account, while on the red carpet, and performing at concerts. But according to his testimony, the rapper/actor said he only owns three or four watches and that "they are not big name watches."

In fact, he told the court that the watch he was wearing that day was a Casio G-SHOCK, which retails between $100 and $450, according to its website. Jackson went on to say that in the hip-hop culture, "People only follow things that they think is the next level" but that it's all deceiving, just like a music video. "They say action and you see all these fancy cars," he explained, "and when they say cut everything goes back to the dealership."

6. The 64 carat ring is not his either.

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Cartier Cat 65k google that lol#smsaudio

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On September 3, 2013, Jackson posted two pictures on his Instagram account of him holding what he describes as a 65 karat Cartier ring.

In one picture of him wearing the ring the caption reads, "I'm the coolest man alive ask around my hood."

In the testimony, at first Jackson cannot recollect the ring. He even states, "I don't think it is possible to fit 65 carats [on a ring]."

However, when he's shown a picture of the ring on Instagram he admits that he did post it and that he did not own it. "It was a borrowed piece of jewelry from a jeweler," Jackson told the court.

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SEE ALSO: 50 Cent's comments on 'Conan' are coming back to haunt him in court

MORE: 'Bankrupt' rapper 50 Cent has a 24-bathroom house with a nightclub in it

Click through the slideshow below to see pictures of 50 cent through the years:

50 Cent through the years
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6 ways 50 Cent says he tricked the world into believing he was rich
Rapper Curtis Jackson aka '50 Cent Rapper' in front of HUMVEE outside Stage 17 at Raleigh Studios in Manhattan Beach where he is shooting music video for Emimem's new label on 12/10/2002. (Photo by Bob Chamberlin/Los Angeles Times via Getty Images)
Actor/Singer Curtis '50 Cent' Jackson arrives at the Premiere Of 'Get Rich Or Die Tryin'' at Grauman's Chinese Theater on November 2, 2005 in Hollywood, California. (Photo by Kevin Winter/Getty Images)
US musician and actor Curtis Jackson also known as 50 Cent performs in Boris Trajkovski hall in Skopje late on March 31, 2010. (Photo by Robert Atanasovski, AFP/Getty Images)
Curtis '50 Cent' Jackson attends 'Escape Plan' New York Premiere at Regal E-Walk on October 15, 2013 in New York City. (Photo by Dave Kotinsky/Getty Images)
Recording artist Curtis '50 Cent' Jackson of the music group G-Unit performs onstage during the 2014 iHeartRadio Music Festival at the MGM Grand Garden Arena on September 20, 2014 in Las Vegas, Nevada. (Photo by Kevin Winter/Getty Images for iHeartMedia)
NEW YORK, NY - JULY 24: Rapper/actor Curtis James Jackson III aka 50 Cent On ABC's 'Good Morning America' at Rumsey Playfield, Central Park on July 24, 2015 in New York City. (Photo by Gilbert Carrasquillo/FilmMagic)
NEW YORK, NY - SEPTEMBER 10: Curtis '50 Cent' Jackson attends Tuesday's Children Roots of Resilience Gala 2015 on September 10, 2015 in New York City. (Photo by Paul Morigi/Getty Images for Tuesday's Children)
NEW YORK, NY - SEPTEMBER 11: Curtis '50 Cent' Jackson attends the annual Charity Day hosted by Cantor Fitzgerald and BGC at Cantor Fitzgerald on September 11, 2015 in New York City. (Photo by Noam Galai/Getty Images for Cantor Fitzgerald)
NEW YORK, NY - SEPTEMBER 30: Rapper Curtis '50 Cent' Jackson III attends JCPenney and Michael Strahan's launch of Collection by Michael Strahan on September 30, 2015 in New York City. (Photo by Bryan Bedder/Getty Images for JCPenney)
LAS VEGAS, NV - OCTOBER 10: Rapper Curtis '50 Cent' Jackson performs at the 10th annual Wine Amplified festival at the Las Vegas Village on October 10, 2015 in Las Vegas, Nevada. (Photo by David Becker/WireImage)
Curtis '50 Cent' Jackson arrives at The Paley Center For Media's Hollywood Tribute to African American Achievements in Television on October 26, 2015 in Beverly Hills, California. AFP PHOTO / FREDERIC J. BROWN (Photo credit should read FREDERIC J. BROWN/AFP/Getty Images)
ATLANTIC CITY, NJ - OCTOBER 31: 50 Cent attends at The Pool After Dark at Harrah's Resort on October 31, 2015 in Atlantic City, New Jersey. (Photo by Shareif Ziyadat/Getty Images)
GLASGOW, SCOTLAND - NOVEMBER 04: 50 Cent performs at The SSE Hydro on November 4, 2015 in Glasgow, Scotland. (Photo by Ross Gilmore/Redferns)

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