Rudy Giuliani is in a bleak financial situation and 'he appears to be out of cash': CNN

Former President Donald Trump's legal ally Rudy Giuliani, indicted in the same Georgia election investigation Trump has been, is facing financial ruination, reported CNN's Katelyn Polantz on Wednesday.

"When Giuliani was federal prosecutor in New York, he pioneered the takedown of Mafia bosses using RICO. Exactly what he's facing now, being targeted by a similar statute in the state of Georgia," said anchor Poppy Harlow. "He's also saying, I know RICO better than anyone, this isn't the proper use of it. Is it?"

"He's saying that he wants to fight this case in Georgia," said Polantz. "But Rudy Giuliani actually has a lot of other things on his plate right now: namely, he appears to be out of cash. He hasn't been able to share details in court. He's trying to not do that because it would embarrass him and draw attention to his misfortunes, but we were able to pick through some court filings that do outline in lawsuits that he's facing related to his work for Donald Trump after the 2020 election, just how much his bills have piled up right now."

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"Right now, he has $181,000 in current bills," said Polantz. "That includes a judgment from a court last week saying he had to pay a phone bill for his company from 2020, that he has to pay legal fees for two Georgia election workers who are suing him. That's what the sanction would be, an $89,000 sanction. That's not even what happens if he were to lose that case."

As if that weren't enough, Polantz made clear she was just getting started in listing the former New York mayor's financial woes.

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"On top of that, he has a lot of bills for just keeping ahold of the records that he had in his various cell phones and other electronic equipment," she said. "He has that all in a company. It costs money to do searches for those records every time he's getting sued, and it costs money just to hold them with that company. So he has access to his electronic records. It's a lot of legal bills, but on top of that, he has debts. One of the debts that has become public in the court proceedings is he had a $320,000 debt to this company hosting his electronic records. Donald Trump's PAC has paid that off ... but this is not even capturing the scope of the money Rudy Giuliani is just being bogged down with in order to fend off just lawsuits related to the 2020 election and other court proceedings."

"If he's actually out of cash, does he just have two options, pro bono representation or public defender?" asked Harlow.

"Those would be some options. The other options would be to get some cash based on the assets he has. One of the things he has done recently is put a three-bedroom Manhattan apartment up for sale for $6.5 million. It's only been listed for a couple days. As far as I can tell, it doesn't have a bid or a sale on it yet, but he's listing that property of his in Manhattan. We're talking about bills he has right now for lawsuits going on that are not even at the end. If he gets judgments against him for things where he is already conceding he was making false statements about the 2020 election, those bills could skyrocket. That doesn't even factor into how much it costs to defend yourself in criminal court."

Watch the video below or at the link here.

Katelyn Polantz says Giuliani is brokewww.youtube.com