(NationRise.com) – Former New York City Mayor Rudy Giuliani was once called “America’s Mayor” following the 9/11 terrorist attacks on the World Trade Center. In recent years, however, Giuliani has become the center of controversy after losing multiple lawsuits related to his time serving as former President Donald Trump’s lawyer. Now, thanks to those losses, Giuliani’s finances have reached a breaking point as creditors make desperate demands.
Giuliani filed for bankruptcy after he was hit with a massive defamation lawsuit verdict in which he was ordered to pay $148 million to election workers in Georgia. A DC court ordered him to pay the settlement to Shaye Moss and Ruby Freeman, both of whom were employed as poll workers during the 2020 presidential elections. He admitted at the time that the settlement severely strained his finances. The bankruptcy froze the money that was going to be sent to the poll workers.
Despite being granted the opportunity to file an appeal in February, the repercussions of Giuliani’s bankruptcy had already begun, revealing the extent of his financial obligations. The possibility of owing several more million to Dominion Voting Systems and Smartmatic, if their defamation lawsuits are successful, further compounds his legal woes.
Giuliani’s creditors accuse the former New York City mayor of reckless spending, concealing assets, and filing paperwork late. On June 17th, attorneys for those creditors went before a judge to petition for a third party to take control of his finances. Giuliani has maintained control of his finances since declaring bankruptcy.
Giuliani’s creditors claim the bankruptcy declaration was just a “delay tactic” that was made without genuine concern. The poll workers also claim that freezing the settlement violates federal law. Sean Lane, who works as a US bankruptcy judge, also said he was “disturbed” by the case. His agreement with the creditors could mean that a trustee will assume control over his assets and sell them to help cover Giuliani’s debt and settlement. His advisor, Ted Goodman, said the filings are just an attempt to “bully” Giuliani into staying silent.
Among Giuliani’s assets are multiple properties in Florida and New York, a high-end luxury car, valuable sports memorabilia, and two IRA accounts. The prospect of selling these assets to alleviate his debt has been a topic of speculation, underscoring his financial predicament.
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