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Rudy Giuliani’s Financial Demise Unfolds

Rudy Giuliani, the former New York City mayor, has filed for bankruptcy, a move that comes days after being ordered to pay a staggering 148 million dollars in damages to two former election workers he defamed in a lawsuit. The 153 million dollars in existing or potential debts listed by Giuliani include hundreds of thousands of dollars in tax liabilities, money owed to his lawyers, and millions of dollars in potential legal judgments against him.

The largest of those debts is the 148 million dollars in damages awarded to Ruby Freeman and Wandrea’ “Shaye” Moss, the former election workers who were targeted by Giuliani’s false statements about the 2020 presidential election. Giuliani’s bankruptcy filing will not erase this debt, as bankruptcy law does not allow for the dissolution of debts that stem from a “wilful and malicious injury” inflicted on someone else.

Giuliani’s financial woes have been mounting for some time, exacerbated by investigations, lawsuits, fines, sanctions, and damages related to his work helping then-Republican president Donald Trump try to overturn the 2020 election that he lost to Democrat Joe Biden. In September, Giuliani’s former lawyer Robert Costello sued him for about 1.4 million dollars in unpaid legal bills, alleging that Giuliani breached his retainer agreement by failing to pay invoices in full and a timely fashion.

Giuliani has asked a judge to dismiss the case, claiming he never received the invoices at issue. The case is pending. Additionally, the Internal Revenue Service has filed a 549,435 tax case against Giuliani for the 2021 tax year. This is the latest in a series of financial struggles for Giuliani, who has estimated his assets to be between 1 million and 10 million dollars.

Rudy Giuliani (Via Rudy Giuliani/Twitter)

Despite his financial struggles, Giuliani remains a powerful figure in Republican circles, hosting a daily radio show and a nightly streaming show called America’s Mayor Live. However, his bankruptcy filing has raised questions about how he will be able to pay his debts, including the 148 million dollars in damages awarded to the former election workers. According to Giuliani’s spokesperson, Ted Goodman, the bankruptcy filing will give Giuliani an opportunity to pursue an appeal and provide transparency for his finances under the supervision of the bankruptcy court.

Goodman stated that the filing “should be a surprise to no one”, as it is clear that Giuliani would not have been able to pay the enormous damages award. However, the filing is likely to be met with skepticism by creditors, who may be concerned about the prospect of recovering their debts. As Giuliani’s financial struggles mount, it remains to be seen how he will be able to extricate himself from this difficult financial situation.

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