Fallen funnyman Bill Cosby and his wife Camille are in a precarious financial position as the sexual assault lawsuits continue to mount.
The former Hollywood heavyweight, who created and starred in his eponymous groundbreaking primetime sitcom in the 1980s, has had to resort to “liquidating” assets, obtaining “second mortgages,” and “selling off artwork” to reconcile their massive debt brought on by nonending legal fees.
“It’s never going to end,” RadarOnline reports. “They are in financial turmoil right now.”
The Cosbys have declined to comment on this issue with the media, as family rep, Andrew Wyatt, simply told the publication “no comment.”
Cosby has recently emerged from the Judy Huth lawsuit in Los Angeles County, where he was ordered to pay her half a million dollars in damages. The disgraced comedian still owes approximately $650k for the 2019 and 2020 tax years — the former amounting to $88,566.88 and the latter to $559,573.77.
Despite this mountainous financial hurdle, Cosby has to reconcile, RadarOnline reports that wife Camille Cosby remains resolute in her refusal to change her lifestyle to reflect the family’s current financial quagmire. The family has not paid the staff for some time. However, the publication states that Cosby’s wife refuses to fire their staff and personal chef, creating a reported rift between the husband and wife.
Cosby’s personal fortune was once about $400 million. But the 86-year-old man, who was once called “America’s dad,” has been unable to resuscitate his image and career since he was sentenced to three to 10 years in a Pennsylvania prison for drugging and sexually assaulting former Temple University employee Andrea Constand in 2004.
Without the once-dependable revenue streams that came from touring, creating comedy specials, hosting TV game shows, and producing television fare, Cosby may never be able to rebuild the vast entertainment empire he once amassed.
