Cohen: Trump's 'super ego' has been deflated by $454 million legal fees
Michael Cohen, former Trump attorney, said he thinks former President Trump’s “super ego” has been deflated by compounding legal fees following a hefty order.
CNN's Laura Coates asked Cohen if he thinks his former boss, a businessman, is embarrassed by Judge Arthur Engoron's judgment amounting to more than $454 million at the moment, during a Thursday appearance on the network.
“Well, of course he’s embarrassed because his entire net worth, the constant reiteration that ‘I’m worth at least $10 billion maybe even more’ obviously goes to his ego, his super ego, and that’s now super deflated because it’s just not true,” Cohen said.
Cohen continued, saying it wasn’t “that long ago” that Trump took the stand in his civil fraud case in New York, and said that he was worth “many, many, many billions of dollars” and that he was “very, very cash rich.”
“Well, we know that that’s just yet another lie that was told by Trump,” Cohen said.
Engoron ordered Trump to pay nearly $355 million plus interest in penalties, after finding that the former president conspired to alter his net worth to receive tax and insurance benefits. The total judgement climbs nearly $112,000 in interest each day, putting it at more than $454 million at the time of writing.
Trump’s lawyers wrote in court filings Wednesday that the sum makes it “impossible” to secure a bond covering the full amount. New York Attorney General Letitia James (D), who brought forth the lawsuit against Trump, said she would seize some of his assets if he isn’t able to cover the cost of the judgement.
Trump has asked a New York appeals court to put a hold on the enforcement of his penalties, suggesting he would post a $100 million bond while the process plays out.
Cohen said “everybody needs to keep an eye out” for where Trump will get the money to pay the judgement.
“What we really need to watch out [for] is where the money is going to come from. Is it going to come from Saudi Arabia? Is it going to come somehow back channel from Putin or some other autocratic alleged friend of Donald Trump?” Cohen said. “That’s the most important thing, because what it does is it jeopardizes America’s national security.”
Trump’s net worth is famously obscure, but estimators place it between $2.6 billion and $3.1 billion. Engoron’s judgement follows an $83.3 million order Trump must pay to writer E. Jean Carroll for defaming her in 2019 when he denied her sexual assault allegations. The two penalties amount to $438.1 million.
Cohen has warned that there are risks of Trump, the current GOP front-runner, returning to the White House with his financial liabilities. Cohen argued that Trump is “for sale” and the country should be careful about him being reelected. He also predicted that Trump will have to liquidate his assets to pay off the judgement.