Exactly How Bill Cosby And His Wife Found Themselves In Financial Turmoil After His Arrest

Highlights

• Bill Cosby and his wife Camille are going through financial turmoil.
• The couple has been hit with various financial setbacks, together with owing millions in assets taxes.
• Lawsuits from Cosby's attack sufferers have additional drained his funds.

Few celebrities have had a more tumultuous career than Bill Cosby. The comic was extensively observed as a trailblazer throughout the 1970s and 80s, however the final decade has printed a a lot more sinister facet. Cosby was accused of heinous things by numerous victims and used to be sentenced to jail on fees of irritated indecent exposure in 2018.

Cosby's sentence was once overturned in 2021, however his troubles have now not stopped. While technically a free man, the former star of The Cosby Show has spent the previous couple of years in dire financial straits because of the lavish way of life that he and his wife Camille have grown aware of. The thing is, the couple fails to generate the astronomical quantities of money that they as soon as did.

Bill Cosby And His Wife Are In Financial Turmoil Because They Refuse To Fire Any Of Their Staff

Bill Cosby has tried to downsize his price of dwelling, but Radar Online claims that Camille Cosby is less concerned with letting issues pass. The outlet reports that Mrs. Cosby refuses to fire the staffers and chefs that have worked for her for decades, despite the fact that these staff have not been paid for months, and the fame couple don't have the means to pay them in the rapid future.

A source for Radar Online went on to mention that Bill Cosby is "frustrated" over the topic, and needs to let the staffers cross, as he's not able to "live that lifestyle," however Camille may not budge at the subject. The supply went as far as to label the subject a "major issue" in their marriage.

This isn't the first time that rumors of marital issues have surfaced for the Cosby's. During Bill's prison stint, many claimed that Camille would leave the well-known comic, however the family spokesperson, Andrew Wyatt, issued a statement to People Magazine that laid the topic to relaxation:

"The accusations they have made in their tabloid are absolutely false. Mrs. and Mr. Cosby are not getting divorced and she’s with him in the Philadelphia home as we speak. No issues in the marriage, no issues with the children. These children are grown women in their 40s and 50s. These are not kids. These are not little kids running away from their father."

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Steadfast as they may well be in their dedication to their marriage, Bill and Camille Cosby have been hit with more than a few financial setbacks because the former was once launched from prison.

Bill Cosby And His Wife Have Been Forced To Pay Millions In Property Taxes To The IRS Since 2019

Bill Cosby used to be, for a time, one of the wealthiest comedians in Hollywood. His estimated net value was once $400 million, in line with Celebrity Net Worth, which was because of comedy tours and movie roles, as well as residuals from "The Cosby Show" and sensible actual estate offers. It has long gone down drastically in the last decade, however, as Celebrity Net Worth notes the listed amount does not reflect the most recent developments in Bill and Camille's lives:

"The future of his wealth is not yet known. Cosby reportedly spent millions of dollars on various legal defenses and could be liable for millions of dollars in future damages."

Bill and Camille Cosby have also been matter to quite a lot of tax liens since 2019. The Blast acquired paperwork explaining that the comedian owed a combined $650,000 for failure to pay property taxes all through his time in jail. He owed $88,566.88 for 2019 and $559,573.Seventy seven for the 12 months 2020. He also needed to pay $1.8 million in back taxes from the 12 months 2015.

Between owing the IRS and refusing to fireplace body of workers, Bill and Camille Cosby have been forced to liquidate their belongings and take out 2nd mortgages on their quite a lot of homes.

According to Radar Online, the couple have also resorted to promoting parts of their artwork assortment, which was once valued at over $275 million. "It's a bad situation," claimed the outlet's insider. "And it's never going to end."

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Bill Cosby And His Wife Have Continued To Lose Money Due To Lawsuits From Cosby's Assault Victims

Any hopes Bill Cosby had of returning to balance had been dashed in June 2023, when several victims came forth and sued the comic on grounds of sexual attack.

Janice Dickinson, Lise Lotte-Lublin, Janice Baker-Kinney, Rebecca Cooper, Linda Kirkpatrick, Pam Joy Abeyta, Angela Leslie, Heidi Thomas, and Lili Bernard, were named in the go well with, and in keeping with The Blast, they claimed that Cosby "drugged or attempted to drug each of these women before sexually assaulting them."

This isn't the only time Cosby has been subject to legal action since he's tried to put his life back together. AP News reports that a lawsuit used to be filed by means of a California lady who stated that Cosby sexually abused her on the Playboy Mansion when she used to be 16.

The case was once settled out of courtroom in 2022, however Cosby needed to pay $500,000. This amount does not keep in mind the $3.38 million that the comic paid to Andrea Constand in 2006, or the defamation suit he settled against seven girls for an undisclosed quantity in 2019, consistent with NBC.

Even if Cosby have been to liquidate all his assets, and reduce his present living conditions, it is unclear whether or not he will have sufficient of an income to cope with the huge fees which can be regularly passed him. CBS News printed that the comedian owed $2.75 million in felony fees after his liberate from prison, and attempts to dispute the bill as "egregious" had been rejected by way of a California judge.

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As long as Cosby is forced to sift via criminal charges and accusations from previous victims, the comic won't be able to get on cast ground and provide the kind of lavish lifestyle that he and his wife Camille established in the Eighties. Tellingly, the charges and accusations will most likely move on for the rest of his existence.

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