Disgraced television star Bill Cosby and his wife Camille owe $17.5 million on an Upper East Side townhouse that Cosby bought as a gift for her in 1987. The couple has defaulted on a loan taken against the six-story, 12,060-square-foot home located just steps from Central Park. This is the second Manhattan foreclosure in less than a month for Cosby, whose reputation was tarnished after 60 women accused him of sexual assault.
The property was meant to be a gift for Camille, but the couple later accused their lawyer of embezzling money from them, resulting in the property being put in Camille’s mother’s name by 1990. The Cosbys have not made any payments on the loan since June, and also owe over $300,000 in taxes on the property. First Foundation Bank has filed court papers outlining their financial situation.
In addition to the Upper East Side townhouse, the couple also defaulted on a $4.2 million loan on a Lenox Hill home they have owned since 1980. CitiMortgage sued the couple for this default in December. Cosby’s once positive image was shattered when multiple women accused him of drugging and sexually assaulting them in a scandal that culminated in a 2018 trial where he was found guilty of drugging and assaulting Andrea Constand in 2004.
Cosby was convicted of a criminal sexual assault charge in April 2018 and sent to prison, but he was released in 2021 after the Pennsylvania State Supreme Court overturned his conviction. Despite the legal challenges and financial troubles, a spokesperson for Cosby declined to comment on the foreclosure situation. The actor’s reputation and career have suffered greatly due to the allegations against him, and this financial predicament adds to his ongoing troubles.
The Cosby’s financial debacle highlights the consequences of Cosby’s actions and the impact it has had on their personal and professional lives. The foreclosure on their properties underscores the severe financial strain the couple is facing. The public downfall of Cosby, once known as “America’s Dad,” serves as a cautionary tale of how misconduct and legal troubles can lead to significant repercussions in both the personal and financial realms.
As the couple faces multiple foreclosures and legal battles, the case of Bill Cosby serves as a reminder of the importance of ethical behavior and the potential consequences of one’s actions. The legal troubles, financial difficulties, and damaged reputation are a stark contrast to the once positive image Cosby had as a beloved television star. Despite Cosby’s past success, these recent events have painted a much darker picture of his life and legacy, showcasing the stark repercussions of his alleged actions.
