Press
Donald Trump's financial collapse may be imminent. At least that's how his former lawyer, Michael Cohen, sees it.
WASHINGTON, DC – Donald Trump's numerous lawsuits have so far had little impact on his campaign and poll numbers. Things may look different with the designated Republican presidential nominee's wealth and bank balance — at least according to one former confidante: Trump's former legal adviser Michael Cohen sees the former president on the financial brink.
Trump in the end? “We'll see him lose everything.”
Trump will lose “most of his money,” Cohen recently judged on his podcast “Me Culpa,” according to the American portal. Newsweek reported on Saturday (March 16). “I think we're going to see him lose everything,” the lawyer said. “He's already lost his mind and most of his money.”
In view of previous judges' rulings in civil cases, Cohen spoke of “millions and millions in legal fees” at Donald Trump's expense. The former president's estate is already fully in debt. Cohen's thesis is attributed to, among others, the American writer E. Legal disputes with Jean Carroll and rulings on Trump Organization operations. It involved hundreds of millions of dollars.
Cohen is no stranger: The 58-year-old lawyer advised Trump in the 2016 US presidential election. In this role, she is said to have been involved in keeping allegations and reports of Trump's assaults against many women out of public view. In 2018, Cohen was targeted by the Justice Department and pleaded guilty to, among other things, illegal campaign finance and tax fraud. He then leveled the accusations at Trump — and received an enormous request from the former president in 2023.
Trump Loses Millions of Dollars in Lawsuits – 450 Million Verdict on Trump Organization
Background to Cohen's statements: After losing a defamation case against Carroll, Trump posted more than $90 million in bail in court — but he appealed. dpa reported. A New York jury found that it was proven that Trump assaulted, sexually assaulted, and then defamed Carol at a New York luxury department store in 1996. More recently, Trump has jeopardized another lawsuit in this case with his comments.
Trump was recently found guilty in a fraud investigation and had to raise more than $450 million. The civil case is about the future of his corporate empire. The court found evidence that Trump, his sons and employees had manipulated the value of the Trump Organization over the years to obtain cheaper loans and insurance contracts. The ruling has tarnished Trump's reputation as a successful businessman.
Trump's Experiments: A New Potential
Trump's bid for the presidency has never been threatened or directly affected by the civil lawsuits. However, the former president is now involved in further activities. Most recently, the beginning of an investigation into the payment of a porn star was confirmed by a judge on March 25.
It was the first criminal trial in US history against a former president. Three more criminal investigations are underway, including allegations of attempted election fraud. Civil suits are also pending. (fn with material from dpa)
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