Cohen: 'He's watching the entire family legacy coming to a screeching halt'

MSNBC2 minutes read

Former President Trump faces a $454 million bond deadline to prevent seizure of his assets in a civil fraud case in New York. Trump's lawyer, Michael Cohen, warns that Trump's sources of money for the bond could pose a national security risk if borrowed from mega-billionaire donors or foreign entities.

Insights

  • Trump is facing a $454 million bond deadline in a civil fraud case, with discrepancies between his lawyers' claims of inability to pay and Trump's assertions of having substantial cash reserves.
  • Cohen emphasizes the importance of the source of money Trump uses to pay the bond, warning against borrowing from mega-billionaire donors or foreign entities due to potential national security risks, showcasing the complexity and broader implications of the situation.

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Recent questions

  • Why is former President Trump facing a $454 million bond deadline?

    Due to a civil fraud case in New York.

  • What complicates the option of bankruptcy for Trump?

    Changes in bankruptcy laws.

  • Why are there discrepancies regarding Trump's ability to pay the bond?

    Trump's lawyers claim he cannot pay, while Trump asserts having over $400 million in cash.

  • What steps has New York State Attorney General Letitia James taken?

    Initiated actions to seize Trump's assets if necessary.

  • Why is the source of the money Trump uses to pay the bond crucial?

    Borrowing from mega-billionaire donors or foreign entities could jeopardize America's national security.

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Summary

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Trump faces $454M bond deadline amid legal battles.

  • Former President Trump is facing a $454 million bond deadline to avoid seizure of his possessions in a civil fraud case in New York.
  • Trump's former lawyer, Michael Cohen, states that Trump is exceptionally angry and believes consequences do not apply to him.
  • Bankruptcy may not be a viable option for Trump due to changes in bankruptcy laws, making it more complicated than just filing for bankruptcy.
  • Discrepancies arise between Trump's lawyers claiming he cannot pay the bond and Trump's claims of having over $400 million in cash.
  • New York State Attorney General Letitia James has begun steps to seize Trump's assets if necessary, with Trump potentially using the situation to inflame his supporters.
  • Trump is involved in multiple legal proceedings, raising concerns among donors about their money going towards his legal expenses.
  • Cohen warns that the source of the money Trump uses to pay the bond is crucial, as borrowing from mega-billionaire donors or foreign entities could jeopardize America's national security.
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