Giuliani Forced to File Bankruptcy After $146 Million Verdict

( – Rudy Giuliani, the former mayor of New York City and attorney for Donald Trump, filed for bankruptcy Dec. 21, as indicated in a court filing.

Giuliani faced a $146 million defamation verdict less than a week ago in a case involving Shaye Moss and Ruby Freeman, both linked to the Fulton County election. Subsequent to this, Giuliani initiated Chapter 11 bankruptcy, citing estimated liabilities ranging from $100 million to $500 million. A federal judge later adjusted the initial damage award from $148 million to $145,969,000.

Michael Gottlieb, the lawyer for the election workers, stated that they expected this action and emphasized that it would not effectively clear Mr. Giuliani’s debt to Ruby Freeman and Shaye Moss.

On Wednesday, Judge Beryl Howell instructed Giuliani to promptly pay the two election workers, expressing concern that he might not provide truthful information about his finances and not comply with the court’s decision.

Following the 2020 presidential election, Giuliani made false statements alleging election workers’ involvement in a fraudulent ballot processing scheme. Giuliani’s attorney has now stated that he cannot meet the compensation requested by Freeman and Moss.

Ted Goodman, Giuliani’s political adviser, told news correspondents that Giuliani’s decision to file for bankruptcy should not be a shock. According to Goodman, it was unrealistic to anticipate that Mayor Rudy Giuliani could cover such a substantial fine. He clarified that Chapter 11 provides Mayor Giuliani with an avenue for appeal and guarantees fairness to all creditors by overseeing his financial matters transparently under the bankruptcy court’s supervision.

Giuliani, who was once worth more than $50 million, has seen a substantial drop in his wealth. According to his bankruptcy filing, he now values his assets at somewhere between $1 million and $10 million. Legal papers reveal he owes around $724,000 in income tax to the IRS for 2022 and 2021 and an extra $265,000 in income tax to New York state.

Additionally, Giuliani’s bankruptcy filing indicates that he owes money to Hunter Biden, the son of President Biden. In September, Hunter Biden filed a lawsuit against Giuliani and another lawyer, alleging that they wrongly accessed and disclosed his personal information, which they obtained from a Delaware computer repair shop owner, as reported by the Associated Press.

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