Donald Trump’s former lawyer Michael Cohen warned on Saturday that the “real issue” with the former president’s bond in his New York civil fraud case is the source of the $454 million.
In February, Judge Arthur Engoron ordered Trump to pay $355 million, plus interest, and barred him from doing business in New York for three years after finding him liable for financial fraud in September 2023 in a lawsuit brought on by New York Attorney General Letitia James’ office. Trump, the presumed GOP presidential nominee in the 2024 election, has claimed that he has done nothing wrong and that the case is politically motivated against him. He has appealed Engoron’s judgment.
Meanwhile, the former president has until Monday to come up with a $454 million bond to stop James from seizing his assets in order to pay Engoron’s judgment.
It is uncertain if Trump will be able to secure the bond by Monday. The former president’s legal team wrote in a court filing last week that it is a “practical impossibility” to come up with the money in that time. Meanwhile, Trump wrote on his social media platform Truth Social on Friday that he has almost $500 million in cash.
Joe Raedle/Spencer Platt/Getty Images
Cohen, who has become a fierce critic of Trump, told MSNBC’s Reverend Al Sharpton on his show PoliticsNation on Saturday evening: “The real issue that we have to think about is not even about this bond…it’s not about the $454, it’s where he gets the money from.”
The ex-Trump lawyer warned that the source of the bond could pose a risk to America’s national security.
“Because if he borrows the money from one of these mega billionaire donors, he becomes indebted to that individual and that places America’s security in danger,” Cohen said. “But not even as much as if he takes the money from a foreign entity. Now, all of a sudden, he’s indebted to a foreign entity—it could be an ally, it could be an adversary, which again, makes it even worse.”
He continued: “By knowing Donald the way I do, it’ll come through a multitude of shell companies. It’s gonna be very difficult to find out where the original dollars come from. He’ll know. And again, that will place America’s national security in major, major jeopardy.”
Newsweek reached out to Cohen via text message and Trump’s campaign via email for comment.
Cohen served prison time after pleading guilty to eight criminal counts including tax fraud and making false statements to a bank; and campaign finance violations stemming from his work with Trump.
He testified at Trump’s civil fraud damages trial and is expected to be a key witness in Manhattan District Attorney Alvin Bragg’s case against the former president for allegedly falsifying business records relating to hush-money payments to adult film star Stormy Daniels during his 2016 presidential campaign. Trump has pleaded not guilty to all charges and, again, claims the case is politically motivated against him. Daniels has alleged that she had an affair with Trump, which he has denied.
Meanwhile, James has been eyeing Trump’s properties as Monday inches closer. The attorney general registered the $454 million judgment in Westchester County on March 6, according to a Westchester County online database.
This move makes it easier for James to potentially seize the former president’s assets in the New York suburb. The former president owns the 140-acre Trump National Golf Club Westchester and Seven Springs estate in the county.
Besides Trump’s properties in New York, the former president has his Mar-a-Lago resort in Palm Beach, Florida, and a luxury hotel in Las Vegas. He also has a plethora of golf courses across the United States and even two in Scotland—Aberdeen and Turnberry—and one in Doonbeg, Ireland.
Uncommon Knowledge
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.