LIQUIDITY CRISIS

Trump Doesn’t Have Enough Cash to Pay Huge Fraud Damages: Michael Cohen

Trump’s former lawyer said on CNN that Tuesday’s legal developments have “long been in the wait.”

Michael Cohen, who alleged during a 2019 congressional hearing that his former boss, Donald Trump, inflated his assets to obtain favorable tax breaks, predicted that Trump will end up on the hook for much more than what New York Attorney General Letitia James is asking for in her fraud case against him. That case went into overdrive Tuesday when a judge ruled that Trump, his executives, and his heirs were liable for “persistent and repeated fraud.” During an interview on CNN Tuesday night, Cohen said the news “has long been in the wait.” While James is seeking a $250 million penalty, Cohen predicted on The Source that Trump will ultimately have to pay at least $600 million when taking into account “interest and penalty.” Cohen also claimed that Trump “does not have that liquid cash available in order to pay that off.” When asked by anchor Kaitlan Collins whether Trump is able to pay that amount, Cohen simply replied, “No.”

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