Donald Trump’s former personal attorney Michael Cohen told MSNBC’s “Deadline” on Friday that the former president cannot afford to rule against Trump in a New York City civil fraud trial.
“Where is he going to come up with $355 million?” Cohen said. This does not include the $86 million or $88.6 million he owes E. Jean Carroll in a civil suit. That’s a staggering amount for virtually anyone, and there are probably only a handful of people in America who could afford to write a check for $500 million, but Donald is not one of them. The pressing question now is, if he were to appeal, how would he do so? Will he issue a cash bond? Where is he getting the cash bond from? He’s not going to find someone to put it together. He was unable to find anyone to guarantee the $5.3 million in the E. Jean Carroll case. ”
Anchor Alicia Menendez said, “Talk about how a company might sell assets to provide financial liquidity.”
“I don’t think that’s possible, at least not with New York state assets,” Cohen said.
He went on to say, “The parking lot, the restaurant that he owns, all of that was taken on as a sponsor when he developed the property. So he has no basis in that. At the time of the sale. You’ll be subject to capital gains tax on the difference, which is no different than what anyone else pays. So, cut it to 40 percent or 50 percent, or 240 million. Dollar assets would be $120 million, but there would be mortgages remaining. None of these assets were mortgaged. That’s why it’s so small. All about New York I don’t think the $355 million would be covered even if the assets were sold.”
“To emphasize what you’re saying, he stalls,” Menendez said.
Mr. Cohen said: And I’m going to use your language. He got stuck. ”
“What happens if Donald Trump stalls?” Menendez said.
“He goes into a complete and utter panic,” Cohen said. “Donald’s current theory is that the only option for him financially and criminally in terms of incarceration is if he wins the election. He’s not running for president of the United States to do good for the United States. What he wants to do, and the only way he can, is win the presidency. This is all about saving himself. It’s about running for that purpose.”
Follow Pam Key on Twitter @pamkeyNEN
