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Rap superstar Lil Wayne plead guilty to felony gun possession Thursday, following a July 2007 incident in which he was caught toting a .40-caliber semi-automatic.

According to the AP:
“A glum Lil Wayne said little as he admitted illegally having a loaded gun on his tour bus in 2007, moving to end a case that had churned along as he collected Grammys and gold records. He's expected to get a year in jail at his sentencing, set for February.”

Following the news, some doubt the rappers career can survive the bad publicity- as well as his extended absence from the scene while in prison. But think about it, the guy has a slew of mega hits under his belt, not to mention the ones he’ll probably write while he’s in prison with nothing better to do. Plus, prison equals street cred. Lil Kim has it, T.I. has it. Even Martha Stewart has it.

And if T.I.’s strong sales and airplay are any indication, Lil Wayne won’t be filing for bankruptcy any time soon.

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