Rudy Giuliani, former New York City mayor and attorney for Donald Trump, has filed for bankruptcy after being ordered to pay $148 million in damages to Fulton County election workers Ruby Freeman and Shaye Moss. The bankruptcy filing comes less than a week after the jury’s decision in the defamation lawsuit brought against Giuliani by Freeman and Moss. Giuliani estimates his liabilities to be between $100 million and $500 million.
However, Michael Gottleib, the lawyer representing Freeman and Moss, stated that the bankruptcy filing will not discharge Giuliani’s debt to his clients. The federal judge overseeing the case also expressed concerns about Giuliani’s honesty regarding his finances and ordered him to compensate the election workers immediately.
Giuliani had falsely accused the election workers of engaging in a fake ballot processing scheme after the 2020 presidential election. His attorney argued that Giuliani doesn’t have enough funds to pay the compensation sought by Freeman and Moss. In a statement, Giuliani’s attorney mentioned that filing for Chapter 11 bankruptcy will allow him to pursue an appeal and ensure fair treatment of all creditors.
Giuliani’s net worth, which was once estimated to be over $50 million, has significantly declined. In the bankruptcy filing, he listed his assets between $1 million and $10 million. Additionally, Giuliani owes $724,000 in income tax to the IRS for 2022 and 2021, along with an additional $265,000 in income tax to New York state. He also has undisclosed debts to Dominion Voting Systems and Smartmatic, both of which sued him for defamation related to false claims about the 2020 election.
To generate cash, Giuliani has sold 9/11 shirts and promoted sandals sold by Donald Trump ally Mike Lindell. He also briefly offered video messages on the platform Cameo for $325 each, although his availability has since been discontinued.
Giuliani’s attorney, Joe Sibley, described the financial damages sought by Freeman and Moss as the “civil equivalent of the death penalty” during the trial.,
Former New York City Mayor and personal attorney to Donald Trump, Rudy Giuliani, has filed for bankruptcy after being hit with a staggering $148 million defamation lawsuit judgment. The lawsuit was brought against Giuliani by a voting technology company, which accused him of spreading baseless claims of election fraud during the 2020 presidential election. The bankruptcy filing comes as a significant blow to Giuliani’s reputation and financial standing, marking a stunning downfall for the once prominent lawyer.
