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."
See Also: Donald Trump Reportedly Outlined Plan For Punitive Actions Against Critics In Potential Second Term
Trump won’t win "his ‘get out of jail free’ card, Cohen said, implying that the former president would lose the 2024 election.
“He's not running for anything other than to stay out of jail," he said, adding, “It’s going to hit him as hard as this case is currently hitting."
Why It Matters: The New York Civil Fraud case revolves around the Trump Organization’s financial statements, which Attorney General Letitia James alleges were manipulated by the Trump family.
This came after Cohen last week accused Donald Trump Jr. and Eric Trump of lying under oath during their depositions. In a separate interview with MSNBC, he criticized Eric’s claim of pouring concrete and operating properties, stating, “Eric has never poured concrete in his life.”
Last month, Cohen also testified against Trump in a New York courtroom. Cohen said that the ex-president had asked him to “increase the total assets based upon a number that he arbitrarily elected.”
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