Michael Cohen, a former personal attorney for Donald Trump, predicted Monday on CNN’s “Primetime” that the former president’s business cannot survive the damages that will be awarded in New York Attorney General Letitia James’ civil suit.
Cohen said, “He’s watching as his company, his 50-plus-year company, is in a death spiral. I mean, basically what Letitia James did, our unsinkable attorney general, she gave him the corporate death penalty. Judge Engoron is in agreement with Letitia James that the company should not be able to practice, neither should Donald.”
He continued, “This is actually a big one for Donald, because Donald’s entire id, his ego, his superego, have all been predicated around the notion that he is this incredibly rich entrepreneur genius businessman. And what this does is it strips him of all of that. It demonstrates that he’s neither rich, he’s certainly not a genius businessman, and he’s certainly not a good entrepreneur.”
Anchor Abby Phillip said, “Do you think he can survive a penalty of a quarter of a billion dollars, or potentially more because it’s really up to the judge what that number ends up being?”
Cohen added, “Correct. That’s also something that people make a terrible mistake with. What Attorney General James stated is that it is a baseline of 250 million, meaning that’s the bottom. That doesn’t mean that that’s the top. The way I calculate it based on the information that I know, it’s going to be at least double, if not 2.5 times that amount, with penalties and interest and so on. And the answer is no, he cannot survive this. He cannot recover from this.”
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