Former Trump Lawyer Predicts Ex-President Faces Bleak Financial Future With $600M At Stake In New York Fraud Case: 'It's Going To Hit Him Hard'
Benzinga
2023-11-07
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Donald Trump‘s former attorney, Michael Cohen, forecasted a heavy $600 million financial blow for the former president resulting from a New York civil fraud case.
What Happened: In an interview with Salon on Monday, Cohen expressed that Trump’s ability to meet such an enormous amount is questionable.
"He (Trump) does not have that in equity. So when these assets get sold — and remember, he is low basis in most if not all of these assets — take the tax implications and then subtract from that the outstanding mortgages that may exist," he said.
"Technically, there is nothing left."
What Happened: In an interview with Salon on Monday, Cohen expressed that Trump’s ability to meet such an enormous amount is questionable.
"He (Trump) does not have that in equity. So when these assets get sold — and remember, he is low basis in most if not all of these assets — take the tax implications and then subtract from that the outstanding mortgages that may exist," he said.
"Technically, there is nothing left."
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