Cash flow is becoming a serious problem for Donald Trump.
The disgraced former president has not yet paid the bond in his business fraud case in New York, where the verdict, with fees and interest, is bordering on half a billion dollars — and he can’t appeal the judgment without putting up the money first.
His former fixer, Michael Cohen, who was a witness in the case, showed up with the inside scoop on Trump’s state of mind, and the barriers inherent in securing a bond for such a massive amount in his current situation.
Trump’s money struggles are only growing, with multiple legal teams doing their best to drag out his criminal cases. Even though he’s placed loyalists in the RNC to secure that organization’s funding for his own aggrandizement, and has been spending his Super PAC’s cash on his criminal cases, keeping up with the costs of so many legal battles could be insurmountable even without the New York judgment potentially depriving him of control of all of the businesses he operates in the state.
Now Cohen says that Trump had a hard time before finding a lender to help him post a bond in the E. Jean Carroll case, where the verdict was about a fifth of the fraud case — $83 million. He’s not sure how his former boss will work it out, this time. Cohen said:
“I can’t understand how a publicly-traded company like…Chubb insurance was able to justify making this bond to a guy who doesn’t pay his bills…Rest assured of something else. The last person that Donald Trump wants to scrap with right now is our unsinkable Attorney general, Letitia James.”
Cohen says that the moment there’s court approval, A.G. James will start seizing Trump’s properties, and she may not be taking a mere half-billion worth of assets.
He explained that some of these properties already have mortgages or other liabilities that will have to be covered by the sale price. There’s also the interest, accruing at more than $100k per day, and continuing to do so for as long as Trump delays.
Meanwhile, in the delay department, Trump has managed to acquire a postponement in yet another case in which Cohen was slated to testify.
His felony case for falsification of business records — in which he’s alleged to have ordered Cohen to pay off Stormy Daniels to keep quiet about an affair they conducted — was scheduled to start before the end of March. On Friday, Trump obtained a 30-day adjournment, moving the start to April.
Cohen says he’s not worried about any short-term delays because he believes that the former president will be held accountable in the end.
Watch Cohen’s assessment below:
