The Cosbys Face Financial Strain: Selling Assets to Cope
Bill Cosby and his wife, Camille Cosby, are reportedly in severe financial distress, leading them to sell off assets and take drastic measures to manage their situation.
Financial Turmoil for the Cosbys
The couple is facing significant financial challenges due to numerous lawsuits against Bill Cosby. These legal battles have strained their resources, forcing them to liquidate assets, including selling off artwork. They are also reportedly taking out second mortgages to cope with the financial burden.
Legal Battles and Liabilities
Cosby, who was released from prison in 2021 after the Pennsylvania Supreme Court overturned his 2018 conviction for sexual assault, still faces a long list of lawsuits from women accusing him of sexual assault. These legal troubles have compounded, creating a situation of what some describe as “financial ruin” for the 86-year-old and his wife. This situation is exacerbated by Cosby’s reported back taxes amounting to $650K for the years 2019 and 2020.
Damages and Continued Lawsuits
Adding to their financial woes, Cosby was ordered to pay $500K in damages to Judy Huth after a California civil jury found him guilty of assaulting her in 1975. Furthermore, in June, Cosby was sued by nine more women in Nevada, all alleging sexual assault, putting additional pressure on his finances.
