Conservative lawyer George Conway, a vocal critic of the former President, has foreseen a dire financial outcome for Donald Trump in light of the New York business fraud case. Conway suggested that Trump will be compelled to “liquidate everything” following a damages ruling in the ongoing legal battle.
In an interview with MSNBC on Monday, Conway expressed his observation that Trump’s behavior has become increasingly erratic, even more so than usual. He highlighted the stark contrast between the former president’s image as a mogul, notably during his time on ‘The Apprentice,’ and the current situation in New York where his decades-long empire seems to be crumbling.
The crux of the New York case revolves around allegations that Trump and his adult sons, Donald Trump Jr. and Eric Trump, deliberately manipulated the valuations of their business assets. They did so to secure more favorable loan and insurance terms, as asserted by the prosecution. Judge Arthur Engoron has already ruled that fraudulent activities took place. The ongoing trial will determine the extent of the damages incurred.
Prosecutors are pursuing a hefty penalty of $250 million and a prohibition on Trump and his sons from operating businesses in New York. George Conway underscored that the revocation of their business licenses would be the crippling blow for the former president.
“He’s going to have to liquidate everything, including properties like Mar-a-Lago, which are held by New York LLCs,” Conway remarked. “The crucial question is how much of the proceeds from these sales, once he’s forced out of business, will go to the state of New York. That’s the heart of the matter.”
Conway emphasized that this legal battle is poised to deliver a substantial blow to Trump’s business endeavors.
The New York trial for Trump has encountered its share of challenges. Judge Engoron has imposed two fines on the former president for violating a restricted gag order, and Trump left the courtroom in frustration last week following the testimony of his former attorney, Michael Cohen.
The former president and his sons are expected to take the witness stand in the forthcoming trial sessions.
George Conway, known for his strong opposition to Trump, was previously married to former Trump adviser Kellyanne Conway.
Key Figures in Trump’s New York Business Fraud Case
|Donald Trump||Former President of the United States|
|Donald Trump Jr.||Son of Donald Trump|
|Eric Trump||Son of Donald Trump|
|Judge Arthur Engoron||Presiding Judge in the Case|
|George Conway||Conservative Lawyer and Critic of Trump|
|Michael Cohen||Former Attorney of Donald Trump|
|Kellyanne Conway||Former Trump Adviser and Ex-Wife of George Conway|
This table provides a quick reference to the significant individuals involved in the New York business fraud case against Trump.