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The business fraud civil lawsuit against Donald Trump in New York might be the most challenging legal case the ex-president has faced. This is according to his former attorney, Michael Cohen, who should know because he has witnessed Donald Trump’s actions behind closed doors.
Cohen, who is now testifying against his former boss, informed MSNBC that the lawsuit could potentially deliver a “fatal blow” to Trump’s reputation and his decades-long real estate empire. Judge Arthur Engoron, who has already ruled Trump liable for business fraud, seeks to dismantle the Trump Organization in the state. Cohen refers to this as “financial ruin” for Trump, who desires to be recognized as one of the wealthiest individuals in the world, despite already being removed from the list.
Michael Cohen appeared in federal court with his family during the sentencing hearing. Cohen was sentenced to 36 months in prison for various “reforms” involving Donald Trump on December 12, 2018. (Source: SteveSands/New YorkNewswire/MEGA)
“This has always been his predominant fear,” expressed Cohen. He disclosed that Trump fears losing all his wealth and being no longer considered the ultra-billionaire he tried to portray himself as. The presented evidence in the lawsuit points to alleged fraudulent practices by Donald Trump, his businesses, and his sons, Donald Jr. and Eric, which inflated their net worth and overestimated the value of their properties. While the ex-president will likely appeal the current rulings and final outcome, he is on the verge of losing his iconic buildings, including Trump Tower.
Cohen believes this could be the start of the downfall for his arch-nemesis. “Once he loses the operating license and the good standing of the certificates of incorporation, known as Trump Corporation, not only will the main company go into receivership,” he concluded. “But there are also hundreds of other subsidiary companies that will eventually go into receivership as part of the overall receivership process. This is a financial catastrophe. This is the end for Donald.”
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