Bidding on Cosby Assets Tossed Out in Bid-Rigging Case

A bankruptcy judge on Tuesday threw out the winning bids for comedian and convicted sex offender Bill Cosby’s assets, including his New York townhouse, oceanfront New Jersey mansion, and his art collection.

Judge Barbara Houser of the Delaware bankruptcy court ruled that the winning bidders rigged the auction and conspired to acquire Cosby’s assets for a fraction of their worth. The ruling came in response to objections filed by the U.S. trustee and several creditors who argued that the bids were suspiciously low and that the auction was not conducted fairly.

The winning bidders, a group of entities led by New York art dealer William Zierler and his business partner, Richard Allen, had offered $1.56 million for the townhouse, $2.7 million for the New Jersey mansion, and $1.1 million for the art collection.

In her ruling, Judge Houser said that the evidence showed that Zierler and Allen had conspired with Cosby’s bankruptcy attorney, Michael Zuckerman, to suppress the value of the assets and keep other potential bidders out of the auction. She also found that Zierler had misrepresented his financial condition and had made false statements to the bankruptcy court.


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