Cosby faces big financial threat

Cosby faces big financial threat


Civil lawsuits accusing Bill Cosby of sex abuse and defamation could do major damage to the entertainer’s wealth, regardless of how a criminal prosecution plays out, lawyers who have handled similar cases said on Thursday.Cosby, who has been accused by more than 50 women of sexually abusing them in incidents dating back decades, was charged in suburban Philadelphia on Wednesday in the only criminal case he has faced.The actor and comedian is charged with aggravated indecent assault against one of the women, a second-degree felony carrying a maximum penalty of 10 years in prison and a $25,000 fine.The financial assets of the entertainer, who personified the model American family man in a long-running hit television show, are more at risk from at least seven ongoing civil suits that have been filed or joined by 13 women.Cosby, 78, has denied the criminal and civil allegations.

He has sued some of his accusers for defamation, and his lawyers have questioned their motives, suggesting they are after money.A loss in the civil litigation could be very costly for Cosby, whose career made him one of the wealthiest people in the US entertainment industry, several plaintiffs lawyers not involved in the suits said.Jury awards in cases where a person has claimed sex abuse or defamation can run into the tens of millions of dollars, not including his legal fees.”This is going to be enormously expensive for Cosby,” said Paul Callan, a New York lawyer who successfully represented the estate of retired American football player OJ Simpson’s ex-wife in a civil case after Simpson was acquitted in her killing.


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