As of: March 16, 2024, 8:22 p.m
By: Florian Naumann
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Donald Trump's financial downfall may be imminent.
At least that's how his ex-lawyer Michael Cohen sees it.
Washington, DC – Donald Trump's countless lawsuits have so far had little impact on his election campaign and poll numbers.
Things could look different with the property and bank balance of the designated Republican presidential candidate - at least according to the assessment of a former confidant: Trump's former legal advisor Michael Cohen sees the ex-president on the financial brink.
Trump at the end?
“We will see him lose everything”
Trump will lose “most of his money,” Cohen recently said in his podcast “Mea Culpa,” as the US 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.”
With a view to previous judges' rulings in civil cases, Cohen spoke of "millions and millions in legal fees alone" at the expense of Donald Trump.
The ex-president's property is already in full debt.
The reason for Cohen's theses is likely to be, among other things, the judgments in the legal disputes with the US author E. Jean Carroll and on the activities of the Trump Organization.
This potentially involves hundreds of millions of dollars.
Donald Trump has an expensive problem.
(Archive photo) © WIN MCNAMEE/AFP
Cohen is no stranger: The 58-year-old lawyer advised Trump, among other things, in the 2016 US presidential election.
In this role, he is said to have been involved in keeping allegations and reports of Trump's assaults against several women out of the public eye.
In 2018, Cohen himself was targeted by the judiciary and pleaded guilty to, among other things, illegal campaign financing and tax fraud.
He later made allegations against Trump himself - and in 2023 received an enormous demand from the ex-president.
Trump loses millions of dollars in lawsuits – 450 million verdict on Trump Organization
The background to Cohen's statements: After losing his libel case against Carroll, Trump deposited more than $90 million in bail with the court - but he also appealed, as the
dpa
reported.
A New York jury had found it proven that Trump attacked Carroll in a New York luxury department store in 1996, sexually abused him and later slandered him.
Most recently, Trump risked another lawsuit in the case through his comments.
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Trump was also recently found guilty in a fraud trial and has to raise more than $450 million.
This civil case was about the future of his corporate empire.
The court found it proven that Trump, his sons and employees had manipulated the value of the Trump Organization for years in order to obtain cheaper loans and insurance contracts.
The verdict tarnishes Trump's image as a successful businessman.
Trump's trials: A novelty is possible
There was never a threat of prison time or direct impact on Trump's bid for the presidency in the civil lawsuits.
However, the ex-president is currently involved in further proceedings.
Most recently, the start of a trial in connection with hush money payments to a porn star was confirmed by a judge on March 25th.
It would be the first criminal trial of a former president in US history.
Three further criminal trials are being prepared, including on allegations of attempted election manipulation.
Civil lawsuits are also ongoing.
(
fn with material from dpa
)