Even though he faces at least 10 civil lawsuits (E. Jean Carroll’s defamation lawsuit, Summer Zervos defamation suit, Mary Trump’s fraud lawsuit, etc.) a former White House prosecutor says it won’t be any of those actions that will leave the Trump Organization bankrupt.
Jill Wine-Banks appeared on MSNBC and noted that while any of the 10 civil suits could result in multi-million dollar settlements, they won’t be what eventually bankrupts Trump and his company:
Those bank loans, Wine-banks continued, are an enormous threat to Trump’s financial bottom line:
One of those loans is from Deutsche Bank, and it totals $340 million. The German bank has cut its ties to Trump and has also hinted it will seize the former president’s assets if he cannot come up with the millions he owes.
Business is way down at Trump properties, thanks in part to COVID fears and because the Trump name is now poison due to his failures as president.
The Trump Organization is hanging by a thread financially. And in the next few months we could see it collapse completely.