Former New York City Mayor and Trump lawyer Rudy Giuliani filed for bankruptcy on Thursday, according to a court filing.
Giuliani filed for Chapter 11 bankruptcy less than a week after a juryin damages to Fulton County election workers Ruby Freeman and Shaye Moss, who sued him for defamation.
It estimates its liabilities range between $100 million and $500 million.
On Wednesday, the federal judge overseeing the case ordered Giulianiexpressing concern that he has been dishonest with his finances and will not comply with the sentence.
Giuliani had falsely claimed after the 2020 presidential election that election workers participated in a scheme to process fake votes. His lawyer recently pointed out that his pockets were not deep enough to pay what Moss and Freeman had been asking for in compensation.
The financial compensation the couple sought would be the “civil equivalent of the death penalty,” said Giuliani's attorney, Joe Sibley.last week.
Giuliani's political adviser, Ted Goodman, told CBS News that the bankruptcy filing “shouldn't come as a surprise to anyone.”
“No one could have reasonably believed that Mayor Rudy Giuliani would be able to pay such a large punitive amount,” he said in a statement. “Chapter 11 will provide Mayor Giuliani the opportunity and time to file an appeal, while also providing transparency to his finances under the supervision of the bankruptcy court, to ensure that all creditors are treated equally and fairly throughout the process”.
In one go,It was estimated at more than $50 million, but recent signs suggested its finances had weakened. To generate cash, he sold 9/11 T-shirts for $911 and launched sandals sold by Donald Trump ally Mike Lindell. He also began selling video messages on Cameo for $325 each, although his page on the site says Giuliani is no longer available.
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