NEW YORK: Former New York City mayor and Trump attorney Rudy Giuliani filed for bankruptcy Thursday, according to a court filing.
Giuliani filed for Chapter 11 bankruptcy less than a week after a jury ordered him to pay $148 million in damages to Fulton County election workers Ruby Freeman and Shaye Moss, who sued him for defamation.
He estimates his liabilities are between about $100 million and $500 million.
On Wednesday, the federal judge overseeing the case ordered Giuliani to compensate the pair of election workers immediately, expressing concern that he may have been dishonest about his finances and that he might not comply with the judgment.
Giuliani had falsely claimed in the wake of the 2020 presidential election that the election workers engaged in a fake ballot processing scheme. His attorney recently signaled that his pockets weren’t deep enough to pay out what Moss and Freeman had been seeking as compensation.
The financial damages the pair sought would be the “civil equivalent of the death penalty,” Giuliani’s attorney Joe Sibley told the jury last week.
Giuliani’s political adviser Ted Goodman told CBS News that the bankruptcy filing “should be a surprise to no one.”
“No person could have reasonably believed that Mayor Rudy Giuliani would be able to pay such a high punitive amount,” he said in a statement. “Chapter 11 will afford Mayor Giuliani the opportunity and time to pursue an appeal, while providing transparency for his finances under the supervision of the bankruptcy court, to ensure all creditors are treated equally and fairly throughout the process.”
At one time, Giuliani’s net worth was estimated to be more than $50 million, but recent signs suggested his finances had weakened. To generate cash, he’s sold 9/11 shirts for $911 and pitched sandals sold by Donald Trump ally Mike Lindell. He also started selling video messages on Cameo for $325 a pop, although his page on the site says Giuliani is no longer available.
Courtesy: cbsnews
