Michael Cohen Says Trump Could Lose $1 Billion By Exaggerating His Value

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Michael Cohen, the ex-lawyer of former President Donald Trump, says his longtime boss could lose up to $1 billion because he misrepresented his company assets.

Trump, along with three of his adult children and two former Trump Organization executives, was slammed Wednesday by New York Attorney General Letitia James in a $250 million civil fraud case related to alleged financial misrepresentations.

Cohen, who pleaded guilty in 2018 to multiple charges of campaign finance violations, bank fraud and tax fraud, said during a Thursday interview on MSNBC’s The rhythm that the former president’s real financial penalty could end up being four times higher than James’ “base” number.

“One of the things you talked about at the beginning is that… [James is] looking for $250 million, that’s not right,” Cohen told host Ari Melber. “What she said was the $250 million baseline. If I know the documents as I know them and know exactly what fraud took place, I see the number between $750 million and $1 billion.”

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Former President Donald Trump departed at a rally in Youngstown, Ohio, on September 17, 2022; ex-Trump attorney Michael Cohen, right, in New York City on May 6, 2019. Cohen said Thursday that Trump could be forced to pay up to $1 billion as a result of New York Attorney General Letitia James’ civil fraud case. York.
Left: Jeff Swensen, Right: TIMOTHY A. CLARY/TBEN/Getty Images

While James’ lawsuit did not set an upper limit on how much Trump and his co-defendants could be held liable for during the trial, damages were “estimated to total at least” $250 million.

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In addition to any financial sanctions, the lawsuit aims to remove the former president, Donald Trump Jr., Eric Trump and Ivanka Trump from positions at the Trump Organization and permanently ban them from holding similar positions in New York.

The Trumps would also be banned from overseeing any New York real estate acquisitions for at least five years.

James alleges that the defendants engaged in fraud by participating in a scheme to make false and misleading statements to regulators for financial gain.

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The settlement reportedly involved lying about the size of the former president’s New York City penthouse and misrepresenting the value of other real estate assets that Trump used as leverage to secure loans and other financial benefits.

Trump has denied the allegations, claiming James’ lawsuit is politically motivated.

Cohen praised James on Thursday and said he wished Alvin Bragg, the Manhattan District Attorney, would be more like her in his capacity to potentially file criminal charges against the former president.

“I think Tish James is fantastic,” said Cohen. “I think she’s an incredible attorney general, and an attorney general that I wish every state in this country had. I actually wish Alvin Bragg had been a little bit more [like] Tis James.”

In separate criminal proceedings, co-defendant Allen Weisselberg, the former chief executive of the Trump Organization, pleaded guilty to 15 felonies in August and admitted to conspiring with the Trump Organization to evade taxes on corporate benefits.

News week contacted Trump’s office for comment.

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