In a recent interview, Michael Cohen, former attorney to former President Donald Trump, suggested that the former president’s “super ego” has taken a hit due to his mounting legal fees. Cohen also warned of potential national security risks if Trump’s legal debts are paid off by foreign entities.
What Happened: Cohen indicated that Trump’s self-image, tied to his supposed net worth, is suffering due to the recent $454 million legal judgment against him, while speaking to CNN. This judgment, issued by Judge Arthur Engoron, is the result of Trump’s alleged manipulation of his net worth for tax and insurance benefits, reported The Hill on Thursday.
“Well, of course he's embarrassed because his entire net worth, the constant reiteration that ‘I'm worth at least $10 billion maybe even more' obviously goes to his ego, his super ego, and that's now super deflated because it's just not true,” Cohen said.
Trump has been ordered to pay nearly $355 million plus interest in penalties. His legal team has argued that it is “impossible” to secure a bond covering the full amount. New York Attorney General Letitia James has indicated that she would seize some of Trump’s assets if he fails to cover the judgment.
Trump has appealed to a New York court to halt the enforcement of his penalties, proposing to post a $100 million bond while the process unfolds.
Cohen also raised concerns about the source of the funds Trump would use to pay off the judgment, suggesting potential national security implications if the money comes from foreign entities.
"What we really need to watch out [for] is where the money is going to come from. Is it going to come from Saudi Arabia? Is it going to come somehow back channel from [Russian President Vladimir] Putin or some other autocratic alleged friend of Donald Trump?" Cohen asked.
"That's the most important thing, because what it does is it jeopardizes America's national security."
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Trump’s net worth is estimated to be between $2.6 billion and $3.1 billion. The recent judgment adds to an $83.3 million order Trump must pay to writer E. Jean Carroll for defaming her in 2019 when he denied her sexual assault allegations. The two penalties amount to $438.1 million, according to the report.
Why It Matters: Cohen’s remarks come in the wake of Trump’s mounting legal challenges. Earlier in February, Cohen warned that Trump’s increasing financial liabilities could make him “thoroughly compromised” if he were to return to the presidency.
Trump’s legal team has been making moves to exclude key witnesses, including Cohen, from testifying in an upcoming hush-money trial in New York.
Despite these legal challenges, Trump’s legal team’s efforts to postpone the hush-money trial have been unsuccessful, and the trial is set to begin with jury selection on March 25.
Furthermore, a New York judge recently ruled that Cohen’s testimony in a civil fraud trial against Trump is “credible,” despite perjury allegations.
These legal challenges, along with the mounting financial liabilities, have raised concerns about the potential impact on Trump’s political future and the national security implications of his financial situation.
Read Next: ‘This Is A Little Scary’: Kevin O’Leary Compares Trump’s Asset Seizure To Venezuela’s Turmoil
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