In an interesting turn of events in the ongoing bankruptcy case of Rudy Giuliani, his creditors have enlisted the services of a team inclusive of former law enforcement officials to investigate the finances of the ex-New York City mayor. This measure comes as questions arise over the valuation of Giuliani’s assets as well as suspicious transfers.
Since February, Giuliani’s creditors, which include two Georgia poll workers who won a $148 million defamation judgement against him, have been closely coordinating with Global Data Risk LLC to examine his transactions, assets, and income. On Wednesday, a motion for formal approval to engage the firm was placed before the US Bankruptcy Court for the Southern District of New York.
The task at hand for the investigative team is far from simple. Contrary to hopes of uncovering a ‘pot of gold,’ damping remarks have been passed by Giuliani’s lawyer that the search might not yield much. Meanwhile, the forensic team is engaged in tracing transactions and examining income.
More information on the ongoing probe can be explored on Bloomberg Law.
Every development in this bankruptcy case is being closely monitored given the high profile nature of the individual involved, and the unique nature of the circumstances. The outcome of the case is likely to set some sort of precedent for others of a similar vein in the future.
This article first appeared on Bloomberg Law.