New York Tax Fraud Lawsuit Likely To Cost Trump $700 Million: Report

The civil fraud lawsuit brought by New York Attorney General Letitia James against disgraced former president Donald Trump and the Trump Organization is likely to cost the ex-president $700 million in fines, according to an attorney who used to work for Trump.

Michael Cohen was a guest on CNN, and he told host Don Lemon:

“I do believe that he will see repercussions for the first time in almost his entire life. We’ve seen quite a few cases now, whether it’s [Trump Organization CFO Allen] Weisselberg’s incarceration, whether it’s the 17 counts against the Trump Organization, and now with the attorney general’s case, I think we’re going to see a lot of repercussion to Donald Trump.”

Lemon asked Cohen to elaborate on what he believes will be the final result of the New York fraud suit. He replied:

“I think it will be more in the neighborhood of $700 million (in fines), based upon at least the information that I know.”

https://www.youtube.com/watch?v=IAiBAHGzT-4

On Tuesday, video of a deposition Trump gave in the New York tax fraud lawsuit was released. In it, the failed, one-term, twice-impeached former president asserted his Fifth Amendment right against self-incrimination more than 400 times, angrily denouncing the fraud investigation:

“This whole thing is very unfair.

“Anyone in my position not taking the Fifth Amendment would be a fool, an absolute fool. I respectfully decline to answer the questions under the rights and privileges afforded to every citizen under the United States Constitution.

“This will be my answer to any further questions.”

Attorney General James is also seeking to impose the corporate death penalty on the Trump Organization and ban the company from ever doing business in the state in the future. Such a move would likely result in the complete dissolution of the company, which is jointly run by the former president and his three eldest children, Don Jr., Ivanka, and Eric.