Michael Cohen, former President Trump’s former fixer, said he believes Trump will have to liquidate his assets following the recent fraud verdict.
“They’re going to have to start liquidating their assets,” Cohen said. Said In an interview with anchor Ali Velshi on MSNBC’s “Vershi,” Trump said the legal fees President Trump owes in various lawsuits are “a huge amount of money that he doesn’t have.”
“I don’t care what someone wants to write in the newspaper, whatever his qualifications are, he doesn’t have 400 million in cash unless he shows that he has more than 500,000 in his bank account.” Cohen said Saturday.
Cohen’s comments came a day after Judge Arthur Engoron on Friday ordered President Trump to pay a nearly $355 million fine for inflating and writing down business assets for tax and insurance benefits. New York Attorney General Letitia James filed a lawsuit accusing the former president of fraud in 2022, and a judge found him liable for fraud ahead of a months-long trial.
The 92-page ruling also bars him from holding any top executive positions in the Empire State for three years.
The former president has also repeatedly denied allegations of sexual abuse, even though he has been acknowledged as responsible for the assaults, and last month issued another attack on columnist E. Jean Carroll, who defamed her. He also faces an $83.3 million fine that a New York judge ordered him to pay.
His fortune, which thrust him into the spotlight, is likely to be hit hard by a series of judgments totaling about $500 million before interest.
President Trump’s former fixer insisted in a separate interview Friday that the only way for his former boss to avoid fines and jail time is to win the 2024 presidential election in November.
“Donald’s theory right now is that the only solution for him in terms of incarceration, both financially and criminally, is if he wins the election,” Cohen said Friday on MSNBC’s “Deadline: The White House.” he said.
“He’s not running for president to do good for America, he wants to do good for himself, and the only way he can do good is win the presidency. That’s it,” he added.
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