Michael Cohen served for years as a personal attorney and fixer for failed ex-president Donald Trump, and he’s warning that a summary judgement handed down Tuesday by a New York judge against Trump and the Trump Organization means the Donald’s financial house of cards is on the verge of total collapse.
Cohen was a guest on CNN, and host Kaitlan Collins asked if Trump can pay the $250 million judgement, which will likely be closer to $600 million with interest and penalties. Cohen responded, “No.”
“So all of those assets will end up going into some form of receivership,” Cohen added. “As a result of the receivership, those companies will end up being liquidated, especially now that this case is no longer solely about… liability. The judge has already determined that the fraud existed.”
Cohen also noted, “If you want to get to Donald, the way to do it is through his bank book. 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.”
Asked about Trump’s claim that the brand name is worth more than the judge realizes, Cohen had this to say:
“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. But if you’re talking about the asset, what does the brand value have to do with over-inflating the square footage of your primary residence by triple on Fifth Avenue to 33,000 square feet when the unit is actually 11,000 square feet.”
Is Donald Trump still in business in New York after the judge's ruling?
Michael Cohen, whose testimony sparked the investigation: "No." pic.twitter.com/0DA0kMV0rp— Kaitlan Collins (@kaitlancollins) September 27, 2023
Here’s the ugly bottom line for Donald Trump and the Trump Organization: They’re screwed. Donnie is about to be broke, and it should be fun to see how long his attorneys continue to defend him when he can no longer pay their fees.