Rudy Giuliani has filed for bankruptcy in New York with staggering $153 million in debt to creditors, including two Georgia election workers he defamed, lawyers, the IRS and Hunter Biden.
It was a stunning setback for the man who became known as “America’s Mayor” in the aftermath of September 11 and was once a realistic candidate for president of the United States.
The former New York mayor, who led the effort on behalf of Donald Trump to challenge the 2020 election results, filed court documents showing he had less than $10 million in assets.
On Friday, Giuliani, 79, was placed on the precipice of financial ruin when a jury ordered him to pay $148 million in damages to election workers Ruby Freeman and Shaye Moss over claims they tried to rig the vote for Joe Biden.
Rudi Giuliani enters the WABC Radio studios in Manhattan on Thursday, December 21, 2023
Rudy Giuliani has filed for bankruptcy in New York after being ordered to pay $146 million in damages to two Georgia election workers
Giuliani was ordered by a court to pay $148 million to Georgian election workers Ruby Freeman (R) and Shaye Moss (L) following a defamation lawsuit
In August, Giuliani admitted he was having “financial problems” as he faced multiple lawsuits and said he did not have enough money to defend himself.
Court records show he filed his petition in the U.S. Bankruptcy Court for the Southern District of New York.
In the filing, Giuliani said he had between $100 million and $500 million in debt and $1 million to $10 million in assets.
The filing listed Hunter Biden as one of his creditors, without specifying the amount Giuliani owed him.
“Unknown” amounts were recorded as debts to the president’s son and to electoral voting machine companies Dominion and Smartmatic.
Hunter Biden, Dominion and Smartmatic have all filed lawsuits against Giuliani that are ongoing.
In September, Hunter Biden sued Giuliani, accusing the former mayor of violating his privacy over data allegedly taken from his infamous laptop.
Giuliani also mentioned that he owed at least $700,000 to the Internal Revenue Service and more than $260,000 to the New York State Department of Taxation and Finance.
Rudy Giuliani visits a jewelry store in New York City on December 19, 2023
Rudy Giuliani stands with President-elect Donald Trump before a rally at Trump International Golf Club, November 20, 2016
Giuliani named Hunter Biden as a potential creditor after the president’s son sued him for invading the privacy of data on his laptop
In a statement, Heath Berger and Gary Fischoff, Giuliani’s bankruptcy lawyers, said the move was predictable following the defamation lawsuit.
They said: ‘The filing should not come as a surprise to anyone. “No one could have reasonably believed that Mayor Giuliani could pay such a large penalty.”
The attorneys said the Chapter 11 bankruptcy would “give Mayor Giuliani the opportunity and time to appeal while making his finances transparent.”
It would “ensure that all creditors are treated equally and fairly throughout the process,” they said.
Giuliani said he had nearly $1 million in tax debts and also owed money to his lawyers, and many millions of dollars in potential legal judgments in lawsuits against him.
On Tuesday, Giuliani was spotted at a jewelry store in Manhattan, although it was unclear whether he had purchased any items.
He walked into Madison Jewelers on 3rd Avenue after leaving his office.
Declaring bankruptcy won’t erase the $148 million in damages he owes Georgia election workers.
Bankruptcy law does not allow discharge of debts arising from “intentional and malicious injuries” inflicted on someone else.
In September, Giuliani’s former lawyer Robert Costello sued him for $1.4 million in unpaid legal bills.
Giuliani has asked a judge to dismiss the case, claiming he never received the invoices in question.
In August, the IRS filed a $549,435 tax lien against Giuliani for the 2021 tax year.
Rudy Giuliani is shown in a police booking photo in Fulton County Georgia where he has pleaded not guilty in an election case
This summer, Giuliani was criminally indicted in Georgia and accused of trying to overturn the 2020 election results.
Fulton County District Attorney Fani Willis charged him under the same racketeering laws that Giuliani once went after the mob as a federal prosecutor in New York City.
He is one of eighteen people accused of being part of a ‘criminal enterprise’ and, like Trump, has pleaded not guilty.
Giuliani surrendered to the Fulton County Jail in August and had his mugshot taken.
After last week’s $148 million defamation lawsuit, Giuliani blamed the “fascist system of the Biden regime.”
He said he had “no remorse” and his lawyers described the damages as the “civil equivalent of the death penalty.”
Outside court, Giuliani said his claims were “supportable and remain supportable today.”
He has since been sued for a second time by Georgia’s two election workers.
They are asking for an injunction to permanently ban Giuliani from “continuing his smear campaign” against them.
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