Dems Want Trump Banned From 2024 Ballot After Fraud Verdict, You Agree?

Michael Cohen Says Judge’s Ruling Could Put Trump Out of Business

Michael Cohen, former attorney to former President Donald Trump, said in a CNN interview on Tuesday that the business fraud ruling against Trump could put him out of business and push him into bankruptcy.

The judge’s ruling, which came in a civil lawsuit filed by New York Attorney General Letitia James, found that Trump and his sons committed fraud by inflating and deflating the value of their assets to mislead banks and insurance companies. New York prosecutors are seeking at least $250 million in damages and to prevent the family from running businesses in the state.

Cohen, who served as a key witness in investigations against Trump, said that the damages trial, which is set to begin on Monday, is likely to be the end of Trump’s businesses. He said that losing business licenses means that the operations have to shut down.

Cohen also said that the suit going after Trump’s business empire is the most effective way to legally attack the former president. He said that Trump is very protective of his money, and that going after his wallet is the best way to get to him.

“If you want to get to Donald, the way to do it is through his bank book,” Cohen said. “It’s not by saying he’s a narcissistic sociopath or that he’s definitely not 6’3″ and he’s not 215 pounds. You go after the wallet. … Once you start hitting that bank book, that’s what really gets to him.”

Trump has derided the ruling, attacking both James and the judge in the case. He has also claimed that the judge did not account for the value of his personal brand in assessments of his worth.

Cohen argued that this argument holds little merit. He said that the value of the Trump brand has significantly decreased in recent years, and that it is not relevant to the fraud allegations against him.

“When it comes to the value of the brand, sure there’s a value of the brand. What’s the value of the brand now? Obviously significantly less,” Cohen said. “But if you’re talking about the asset, what does the brand value have to do with overinflating the square footage of your primary residence by triple on 5th Avenue, to 33,000 square feet, when the unit is actually 11,000 square feet?”

“What does the brand value have to do with claiming it’s worth $15,000 a square foot or whatever he put down onto it, when in fact nothing in the entire area, that building for sure, even approached a price-per-square-foot even in that stratosphere?” he continued.

The former president faces other legal trouble, including 91 criminal counts in four separate state and federal cases. Trials for all four cases could take place in 2024.

The outcome of the civil fraud case against Trump could have a significant impact on his financial future and his ability to do business in New York State. It could also send a message to other powerful individuals and corporations that they are not above the law.