The former president is facing 'financial catastrophe,' Trump's former attorney said on Sunday.
by billions of dollars to obtain benefits such as better bank loans and reduced tax bills between 2011 and 2021. Trump, who is running in the 2024 Republican presidential primary, has maintained his innocence in the case, and his legal team has said they plan to appeal the judge's decision.
Cohen, who for years served as Trump's personal attorney, but flipped on him after pleading guilty in 2018 to tax charges while working for the former president, explained how the ruling could be a"financial catastrophe" during an appearance onFormer President Donald Trump is seen during a campaign stop in Clinton Township, Michigan, on September 27.
"Once he loses the license within which to operate the good standing of the certificates of incorporation that make up what's called the Trump Corporation, not only is the main company now going into the receivership, but there are hundreds of other subsidiary companies that additionally will ultimately go as part of the receivership. It is a financial catastrophe. It is the death blow to Donald," he said Sunday.
Cohen, who has provided testimony to investigators in some of Trump's legal cases surrounding his businesses, described the ruling as the former president's"biggest fear." "During my tenure at The Trump Organization, I can tell you that this has always been his biggest fear, 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," he added.
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