Trump Ally Giuliani Declares Bankruptcy After Losing Election Overturn Lawsuit

"Preparing Appeal While Under Bankruptcy Protection"

Rudy Giuliani, former New York City mayor who spread false claims of election fraud in the 2020 presidential election on behalf of former U.S. President Donald Trump and was ordered to pay a large sum in damages after being found liable for defamation, has filed for bankruptcy protection.

According to major U.S. media including The New York Times (NYT) on the 21st (local time), Giuliani filed for bankruptcy protection under Chapter 11 of the Bankruptcy Code at the federal bankruptcy court in Manhattan, New York. According to documents submitted to the court, Giuliani's assets range from $1 million to $10 million, while his liabilities amount to $152 million (approximately 197.9 billion KRW).

Previously, a federal jury in Washington D.C. issued a punitive damages verdict against Giuliani, ordering him to pay a total of $148 million to two former Georgia election workers.

[Image source=AFP Yonhap News]

During the 2020 presidential election, these two individuals, who were responsible for election duties in Georgia, filed a lawsuit claiming that Giuliani spread false rumors that they were involved in election fraud, damaging their reputation and causing them to receive death threats from supporters of former President Trump.

Giuliani, as an attorney, took on over 50 lawsuits related to allegations of election fraud after former President Trump lost the 2020 election. However, after losing these cases, Trump reportedly refused to pay Giuliani's legal fees and distanced himself from him.

Giuliani filed more than 50 lawsuits in battleground states in an attempt to overturn the election results, but the legal costs reportedly ballooned to $3 million (approximately 400 million KRW), making it financially unsustainable. He requested financial assistance from former President Trump multiple times, but no actual support was provided.

Ted Goodman, Giuliani's attorney, said that filing for bankruptcy would buy time to appeal the punitive damages verdict, adding, "No one believes he can afford the astronomical costs."

Giuliani recently put his apartment located in an upscale Manhattan neighborhood on the market for $6.5 million (approximately 840 million KRW). In a statement, he said, "It is impossible to pay the excessive punitive damages," and added, "I will prepare to appeal while under bankruptcy protection."

This content was produced with the assistance of AI translation services.