New York Attorney General Letitia James (D)’s newly announced fraud investigation into former President Trump’s business will culminate in the downfall of the Trump Organization, former Trump lawyer Michael Cohen predicted Wednesday.
“It’s going to put an end to the whole company,” Cohen said During an appearance Wednesday evening on MSNBC’s “All In With Chris Hayes.”
“You think so?” Hayes followed.
“I hope so,” Cohen replied.
James earlier on Wednesday Reported a civil fraud caseThe culmination of a three-year investigation into the Trump family and their business practices.
The state attorney general accused the Trump Organization of overstating the former president’s net worth and sometimes inflated and deflated property values to falsely attract investors and obtain tax and credit benefits.
During Wednesday’s announcement, James said his investigation began after Cohen testified before Congress about the Trump Organization.
“When she mentioned my name, I was obviously very happy, and to be honest, I’ve been sitting on a mountaintop screaming for three-and-a-half, four years getting the recognition. The Trump Organization is a criminal enterprise, and I’ve been thrown under the bus by dear old Donald,” Cohen said on MSNBC. .
James’ requests to the court include $250 million in fines and a permanent ban on the former president and his three adult children from serving as an officer or director of any New York-based company.
Cohen told Hayes that he expects that number to rise to about $750 million once the full extent of the issues is realized.
Trump and his two-year-old sons, Donald Trump Jr. and Eric Trump, have blasted the investigation as a witch hunt, citing James’ past promises to continue investigating the family and his upcoming re-election bid in November.
James indicated Wednesday that he has been referred to the IRS and the U.S. Attorney’s Office for the Southern District of New York for federal violations, including falsifying business records and insurance fraud.