'He does not have enough': Michael Cohen predicts Trump will need 'liquidation of his assets'
2024 GOP presidential frontrunner Donald Trump's financial problems went from bad to worse when, on Friday afternoon, February 16, Justice Arthur Engoron handed down his verdict in New York Attorney General Letitia James' civil fraud case.
Agreeing with James that Trump deceived banks and lenders by seriously inflating the value of his real estate assets, Engoron ordered Trump to pay almost $355 million. That figure increases to $450 million, however, when interest is factored in.
Engoron's ruling follows the amounts Trump was ordered to pay in writer E. Jean Carroll's civil defamation lawsuits: $5 million in the first one, $83.3 million in the second one.
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Between James' case (factoring in interest) and Carroll's lawsuits, Trump owes more than $535 million. And that is in addition to everything he owes in legal bills. Forbes has estimated his net worth to be around $2.5 billion.
Michael Cohen, Trump's former personal attorney and fixer, discussed the former president's financial state during a Monday morning, February 19 appearance on CNN — and predicted that Trump will have to "liquidate" some assets.
"It's like the death touch to Donald," Cohen told CNN's John Berman. "They don't have that available cash. I've read in several different articles that he has a substantial sum of cash; it's not true. I would highly doubt it. He's probably looking at RNC money. He's probably looking at super-PAC money — again, as part of money that he would use."
Cohen continued, "But no matter happens, he does not have enough. And there will have to be a liquidation of his assets in order to cover this amount."
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Berman went on to ask Cohen why he believes that Trump's financial problems could "compromise" him "somehow."
Cohen told Berman, "Well, think about it: If you're Vladimir Putin — I'll tell you how Vladimir Putin is probably looking at Donald Trump right now: that Trump is a poor man's idea of a rich man, a weak man's idea of a strong man, and a stupid man's idea of a smart man. So as a former KGB expert, he's looking at Donald and saying: What can we do in order to help him get away from these various different things?"
Cohen continued, "Well one, you can't fix stupid. So, that is what it is. You just take advantage of it. As far as the poor man and a rich man, well, figure out how to put some money in his pocket. Because that's all Donald trump cares about. He doesn't care about America.
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Watch the full video below or at this link.
'He does not have enough': Michael Cohen predicts how Trump will pay $355 million finewww.youtube.com
