Former New York City Mayor Rudy Giuliani claimed his net income is only $2,308 per month in recent federal bankruptcy court filings. The documents were submitted to the U.S. Bankruptcy Court for the Southern District of New York on Feb. 2.
Giuliani filed for bankruptcy last December after he lost a $148 million defamation suit filed by election workers Ruby Freeman and Shaye Moss. A federal court ordered the former mayor to pay Moss and Freeman “immediately.” The Georgia election workers filed the lawsuit after Giuliani falsely claimed they committed election fraud during the 2020 election.
Giuliani claimed to only have an income of $2,308 per month after spending more than $40,000 monthly in expenses, Law & Crime reported after obtaining copies of Giuliani’s filing.
In the same court filings, Giuliani’s assets are valued at more than $10.6 million, including a $5.6 million condo in New York City and a $3.5 million home in Palm Beach, Florida, and his creditors’ attorney, Philip C. Dublin, alleges relevant transfers were not disclosed.
The federal bankruptcy filing ended collection efforts against Giuliani, and he wants the court to modify the judgment in his lost defamation lawsuit due to his bankruptcy. The ex-mayor claimed to have $153 million in liabilities.
Dublin alleges that Giuliani made “significant” overstatements and understatements about his assets’ worth.
The former NYC mayor claimed in the filing that his monthly expenses are $43,797 which includes $13,500 in court-ordered payments to his mother-in-law and $5,000 in alimony.
Giuliani listed his transportation expenses as $1,600, groceries, household items, laundry and personal care products expenses as $1,975 per month. He also claimed he pays $10,934 in homeowner’s association and condominium fees for his condo and $5,166 in fees for his home in Palm Beach.
The one-time attorney for Donald Trump and staunch supporter also claimed $60,000 worth of jewelry, clothing, furniture, three Yankees World Series rings and other personal items. as well as a $25,000 Mercedes.
Freeman and Moss’s attorney, Rachel C. Strickland also advised the court that a $70,000 payment to a defense fund run by Giuliani’s son Andrew raised “red flags.”
“The issue of the source of funds is going to be very ripe,” Bloomberg Law reports Strickland said in a Bankruptcy Court for the Southern District of New York hearing on Jan. 31.
Giuliani’s lawyer Heath Berger denied there were undisclosed transfers and claimed there is “no pot of gold at the end of the day,” which prompted Dublin to reply, “Whether there’s a pot of gold here remains to be seen,” Dublin contends that Giuliani has shares in Uber and owns three incorporated companies that are valued as “unknown.”
Dublin wants the court to assign an accounting firm to investigate Giuliani’s claims on the creditors’ behalf. Incidentally, Trump was indicted for his efforts to commit election fraud in Georgia during the 2020 election, the same crime Giuliani accused Freeman and Moss of committing.
