Donald Trump's former attorney and fixer Michael Cohen believes his old boss won't be able to sell off Trump Organization assets in the face of a $364 million judgment.
Cohen appeared on MSNBC Friday evening just hours after Justice Arthur Engoron ordered a massive payment from the former president he found liable for civil fraud.
"I don't think it's possible, at least not with the New York State assets," said Cohen. "All the assets in New York, if they were sold, I don't think cover the $355 million."
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Cohen then went down the list of Trump's New York assets and explained the many financial strings attached.
"The parking lots that he owns, the restaurants, they were all taken as the sponsor when he was developing the properties," Cohen said. "So he has zero basis in that. You're going to have capital gains tax on the differential when they get sold, no different than anybody would pay. So chop it by 40 percent or 50 percent. So that $40 million asset is $120 million clean, but then you have mortgages on it. None of these assets aren't encumbered by a mortgage. So it's very little."
"Just to underscore what you're saying," replied Alicia Menendez, "He's stuck."
"That's great way to describe it," agreed Cohen. "And I'm going to use your language. He's stuck."
This prompted Menendez to ask, "What happens to Donald Trump when he gets stuck?"
"He goes into complete and total panic mode," Cohen replied. "Donald's theory right now, the only out for him financially and criminally regarding incarceration, is if he wins the election. He's not running for the presidency of the United States to do good for the United States. He wants to do, and the only way he can do, good for himself is to win the presidency. This is all about running for the purpose of saving himself."
Watch the video below or at the link here.
Michael Cohen says Trump is "stuck" trying to pay fraud fineswww.youtube.com
