Berlusconi Ousted from Italian Parliamentary Seat by Senate, Some Say Financial Troubles on the Horizon for Former Prime Minister

The Italian Senate removed Former Italian Prime Minister Silvio Berlusconi from his parliamentary seat on Wednesday, after months of trials for fraud, corruption and sex charges.

The senate ruled that 77-year-old Berlusconi would no longer be a member of the Italian government, marking this as the first time in almost twenty years that the former politician is out of office. Unfortunately, he's got a mounting slew of lawsuits against him, and the potential for further cases to be submitted in the near future, according to the New York Times. The billionaire businessman who reportedly had reportedly threw wild parties that he covered up by abusing his powers in office is said to have more issues concerning his investments and financial deals coming, as many of his longtime comrades have begun moving away from him.

"It is a bitter day, a day of mourning for democracy," Berlusconi told a group of his supporters assembled outside of his house in Rome before the senate was scheduled to vote nearby.

Berlusconi, who once held a seat of power within the Italian government, was found guilty of abuse of office and paying for sex with an underage prostitute back in June.

After a storm of media attention rendered Berlusconi the butt of every "bunga bunga party" joke imaginable, the former prime minister was told he had to pay 500 million euros to rival Compagnie Indestriali Riunite SpA for an issue that came up 22 years before.

Berlusconi's holding company Fininvest SpA was locked in a battle with Compagnie Indestriali to buy out publisher Mondadori that turned ugly. The ex politician's lawyer was convicted in 2007 of bribing the judge on the case.