Hefner's response came after Judy Huth filed a lawsuit against Cosby, 77, claiming he molested her at the Playboy Mansion when she was 15, reported Ace Showbiz.
"Bill Cosby has been a good friend for many years and the mere thought of these allegations is truly saddening," the 88-year-old Playboy mogul said.
"I would never tolerate this kind of behaviour, regardless of who was involved."
Judy and her lawyer Gloria Allred met with Los Angeles police detectives on Friday. After the meeting, Los Angeles Police Officer Jane Kim said that the department opened an investigation into the alleged sexual abuse.
According to Martin, Judy's lawyer approached him and demanded USD 100,000 for her silence. The amount was allegedly increased to USD 250,000 as more accusers came forward.
Martin said Judy tried to sell her story to tabloid ten years ago but she recently claimed that she had a repressed memory which would allow her to sue Cosby.
He said Judy's story fell apart when she claimed she and Cosby "engaged in a drinking game" in which they "both consumed three beers," adding that the comedian was "a life-long non-drinker.
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