Michael Cohen, former personal attorney for Donald Trump, has predicted that the recent New York City fraud ruling could lead to the former president’s bankruptcy. This explosive prediction was made during Cohen’s appearance on CNN’s “The Source”.

In a seismic decision, Judge Arthur Engoron found Trump liable for fraud, stating, “The former president and his company deceived banks, insurers, and others by massively overvaluing his assets and exaggerating his net worth on paperwork used in making deals and securing financing.” This ruling marks a significant blow to Trump, who has built his image on the success of his real estate empire.

Cohen, a central figure in several legal controversies involving Trump, offered an alarming assessment of the potential financial fallout for the former president. He highlighted that the lawsuit is not limited to $250 million, as many have reported, but rather, it sets a baseline that could escalate depending on the judge’s final determination.

“Judge Engoron will be the sole decider on what the damages are. The damages, in my estimation, will exceed, with interest and penalty, will exceed $600 million,” Cohen claimed. Such a staggering sum could place Trump’s company on the precipice of bankruptcy, considering the lack of available liquid cash to pay off the looming debt.

Cohen went on to explain that Trump’s assets, many of which have limited to no basis, would not suffice to settle the potential damages. For instance, he cited 40 Wall Street, which has a $1 million basis and a $100 million mortgage. Furthermore, any funds raised would also be subject to taxation.

Is Donald Trump still in business in New York after the judge's ruling?
Michael Cohen, whose testimony sparked the investigation: "No." pic.twitter.com/0DA0kMV0rp

— Kaitlan Collins (@kaitlancollins) September 27, 2023

Cohen’s sensational prediction adds another layer of intrigue to the ongoing legal battles involving Trump. It not only threatens the financial stability of Trump’s empire but also casts a shadow over his political future.

The implications of this ruling extend beyond Trump’s personal fortune, potentially influencing public perception and political alliances. As the legal proceedings continue and the potential damages loom larger, the question remains: Will Trump’s empire crumble under the weight of the NYC fraud ruling? That doesn’t sound like the Trump that I know.