Speaking to MSNBC on Monday about the recent bombshell report about President Donald Trump's taxes, his former lawyer, Michael Cohen, explained that behind closed doors, Trump is likely panicking.
Sunday night, Cohen recalled a conversation in his book in which Trump got a $10 million refund from the IRS, which Trump mocked as "so stupid."
MSNBC host Katy Tur asked Cohen if Trump is inflating and deflating properties' size to either get more in loans or pay less in taxes. Cohen said that he anticipates it's something that the New York attorney general and the Manhattan district attorney are looking into. Complaints have already been filed against the Trump Organization for it.
"However, I think as it relates to The New York Times reporting, and of course, what does the president say? It's fake, it's not real," Cohen continued. "It's not. He doesn't even know -- if you look at his body language, I talk a lot about that in the book as well -- his body language tells a lot about him. Right now, he's lost. He's confused. He's dazed. He's not sure what to answer. He doesn't know how to answer it because it's hard to answer and to refute something which has basically documentary evidence. They have the returns."
He noted that the one thing that is likely bothering Trump the most is that he has an astounding amount of debt, and he's going to have to figure out a solution quickly.
"Trump has over $420 million in outstanding loans that are coming due," said Cohen. "Now, in the event, there is a potential tax liability for the time period that they're talking about, I mean, it could be hundreds and hundreds of millions of dollars. If you add those together, I mean, he's very realistically facing a potential bankruptcy where people are concerned about in terms of your previous guest about foreign influence. I mean, the more likely scenario that I see is that he'll find some corrupt foreign entity to help him out of the situation. Not too much dissimilar than 666 Fifth Avenue."
In that case, Jared Kushner, "in his capacity as a senior adviser to President Trump, reportedly played a central role in supporting a blockade of Qatar by Saudi Arabia and the United Arab Emirates," explained JustSecurity. "Kushner never disclosed his meeting with Saudi Arabia and the UAE on the blockade to Secretary of State Rex Tillerson at the time. Later, a financial company tied to Qatar brokered an especially valuable deal to rescue the Kushner Companies' property at 666 Fifth Avenue."
There's never been any investigation into the deal.
See Cohen's interview below: