Sex Scandal Leads to Fall of Millionaire Bill Cosby

Comedian Bill Cosby’s troubles keep mounting as he continues to lose face in light of numerous sexual assault allegations.

On Monday, The Associated Press obtained documents from 2005 that confirmed the 77-year-old comedian testified that he obtained Quaaludes to give to women he wanted to have sex with. According to the documents, Cosby also admitted he gave the sedative to at least one woman and “other people.” Following the documents’ release, Walt Disney World Resort removed a Bill Cosby statue on Tuesday.

With a net worth of $400 million, according to CelebrityNetWorth, Cosby has a huge financial buffer. But with the threat of possible lawsuits, cancelled tour dates and an increasingly estranged industry, he might stand to lose a great deal of his wealth.

Bill Cosby Net Worth of $400 Million Still in Jeopardy

Cosby’s money-making reputation began to suffer once accusations started surfacing late last year. According to Forbes, the scandal has cost the once-beloved comedian more than $10 million. Syndicated TV deals were the first to be dropped, as several networks ceased airing “The Cosby Show.” NBC also nixed his forthcoming TV show that might have netted Cosby at least seven figures.

Cosby attempted to make amends with his fan base through his “Far From Finished” comedy tour but was dogged this year by problems. Many of his shows were cancelled, postponed or filled with hecklers. “Had the tour taken place before the allegations, it would have likely been much more lucrative,” reports Forbes. “… between November 2013 and November 2014 … Cosby made at least $7 million from touring, a number that would have likely been repeated or increased with ‘Far From Finished.’”

Cosby also had a Netflix special in the works late last year, but that was postponed indefinitely; he would have likely earned $200,000 per episode, according to Forbes.

Read: 5 Stupid Ways Millionaires Like Jordan Belfort Lost Their Fortunes

Will Bill Cosby Revelation Lead to Criminal Charges?

Former supermodels Janice Dickinson and Beverly Johnson are two of the dozens of women who have accused Cosby sexually assaulted them. The first alleged incident dates back nearly 50 years, according to ET Online.

The accusations might be solidified after Cosby’s comments from the 2005 deposition. Bruce Castor, the prosecutor who investigated Cosby amid sexual assault allegations in 2004, told MSNBC that the deposition could possibly support criminal perjury charges against Cosby.

“I can tear that deposition apart, and anything that I can prove is a material lie would still be subject to a perjury investigation and prosecution,” he said.

On Wednesday, ABC News reported the Los Angeles Police Department will be exploring sexual assault allegations against Cosby, confirming that there is an open criminal investigation.

Photo credit: Randy Miramontez/Shutterstock.com

This article originally appeared on GOBankingRates.com: Sex Scandal Leads to Fall of Millionaire Bill Cosby

This article by Paul Sisolak first appeared on GoBankingRates.com and was distributed by the Personal Finance Syndication Network.