Cash-strapped Trump facing asset buyers prepped to take advantage of him: expert
Following the massive financial fraud penalty Judge Arthur Engoron assessed on Donald Trump on Friday, the former president will likely have to sell off some of his assets and, with the clocking ticking and interest on the potential $450 million owed piling up, possible buyers will have Trump over a barrel.
Speaking with MSNBC host Ali Velhsi on the Saturday morning after the Friday bombshell multi-million dollar financial fraud ruling, Donald Trump biographer Tim O'Brien stated the market for the former president's properties is already down in a post-Covid economy. Add to that, he noted, potential buyers know he badly needs the money.
Telling the MSNBC host Trump is "...going to have to sell some things," O'Brien explained what the former president will likely part with won't bring in what he hopes to get.
"If he sells urban skyscrapers in post-Covid cities where the occupancy rates are low, tenants have been fleeing and the values have been degraded because of it, it is going to be something of a fire sale," he explained to the host.
"You know, other developers are going to know he needs to sell, he won't get top price," he continued. "He's also always loathed to part with his toys and I think that's also going to be stressful."
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"I don't see him having any end-around," he added. "I don't think his appeal will be successful. I could be proven wrong, but Tish James, the New York State Attorney General, came at him under statutes -- they give the attorney general a lot of prosecutorial deference; the court system in New York has always respected that."
"And, again, as you noted in the tweet you showed at the top of our segment, he can't help himself but continue to go after the rule of law and try to degrade American's faith in a system of laws," he remarked. "The judges don't take kindly to that, prosecutors don't take kindly to that. It hurt him in court in the E. Jean Carroll case when he went after the judge. It hurt him in this court when he went after Engoron and he continues to do it to his own detriment."
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