Michael Cohen, former attorney to ex-President Donald Trump, predicts a “financial catastrophe” for Trump as he faces the potential dissolution of some of his companies.
What Happened: Cohen, in an interview with MSNBC's Jen Psaki on Sunday, said the New York Judge Arthur Engoron‘s order could be a “deathblow” to Trump.
The judge ordered several of Trump's business licenses to be rescinded as punishment after he found the former president liable for consistently overvaluing his assets and net worth to secure loans. Engoron said in a ruling that this is the real world and not a fantasy where values can be made up.
"It is the deathblow to Donald," said Cohen.
"I'll tell you, during my tenure at the Trump Organization, I can tell you this has always been his biggest fear," he added.
"That he would lose all of his money and that he would no longer be considered the mega-billionaire that he tried to portray himself as."
See Also: Trump Says Carter ‘Wasn’t A Great President’ While Roasting Biden
Why It Matters: One of numerous legal cases involving the former president as he runs for the 2024 presidential election is a civil lawsuit against Trump and his businesses in New York. Former President Trump made an appearance in the court Monday for the beginning of the trial.
Before walking into the courtroom, Trump attacked New York Attorney General Letitia James for bringing the case against him. "This has to do with election interference, plain and simple," Trump said.
"They're trying to damage me, so I don't do as well as I'm doing in the election."
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