When New York Attorney General Letitia James rolled out the sweeping punitive measures she’s attempting to bring against Donald Trump, his family, and the Trump Organization, some questioned why she was “only” seeking $250 million in penalties. After all, hasn’t Trump committed a lot more fraud than that over the years?
When James announced her penalties, she pointed out that her investigation was put in motion when Michael Cohen publicly testified to Congress about how Trump had alternately overvalued and undervalued his properties, in order to fool everyone from lenders to the government. Cohen had more to say about this when he appeared on the Ari Melber show on MSNBC on Thursday night.
Cohen stated his belief that Letitia James is merely using the $250 million number as a placeholder, and that the actual number could be revised upward as far as one billion dollars. This is notable because it seems highly unlikely that Donald Trump or the Trump Organization has anything close to a billion dollars cash on hand, meaning James could move to seize Trump’s assets to cover the penalties. This is just going to keep getting worse for Trump as it moves forward.
Bill Palmer is the publisher of the political news outlet Palmer Report