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Former President Donald Trump sues Michael Cohen, his former attorney and "fixer" who has become a crucial witness in Manhattan District Attorney Alvin Bragg's criminal case against him.
Donald Trump's former personal attorney is warning that the ex-president's inability to come up with $454 million in New York for a bond payment may open him up to even further legal trouble.
"It tells you he's not nearly as rich as he's sold himself to the American people," Michael Cohen said on MSNBC on Monday night.
Thirty bond companies declined to post cash for Donald Trump, according to a court statement by his legal team, which makes it "a practical impossibility" to post the amount by the March 25 deadline.
"He's right, it's effectively impossible," Cohen said, noting that much of Trump's worth is tied up in real estate. Much of Donald Trump's money is tied up in real estate and many of our readers can attest that it takes time to sell anything, let alone $400 million worth of "anything."
"If that's true, post the $400 million and get the balance," Cohen said. "And if it's not true, who knows, maybe it could be a perjury charge."
Cohen also stated that Trump's money crunch could make him vulnerable to foreign interests.
"It leaves a presidential candidate basically owing a foreign entity, all at the expense of America's national security," he said. "This is no joke. This places our national security in jeopardy and continues to make Donald Trump the single most dangerous thing in America to our national security and democracy."
Last year Bloomberg estimated Trump's net worth at $3.1 billion, but the former president has a lengthy history of exaggerating his personal wealth, which may have played a role in the fraud case.
If Donald Trump does not post the bond by March 25 and does not reach another agreement with the court, New York Attorney General Letitia James will be able to seize his assets.
Michael Cohen served as Donald Trump's personal attorney for years before turning on his boss when he cooperated with investigators and testified before Congress.
