The New York Times reporters Maggie Haberman and Shane Goldmacher examined Federal Election Commission filings, and with their sources, they concluded that Trump super PACs paid a “staggering” 50 million dollars in legal fees.
“A staggering sum”
The reporters made a comparison, writing, “Nikki Haley raised roughly the same amount of money across all her committees in the last year.” They pointed out that 50 million dollars in legal fees “is a staggering sum.”
More court appearances
The writers based their findings on two sources and Federal Election Commission filings. They concluded that Trump would face “enormous financial strain” because, apart from campaigning, the former president faces a large number of court appearances.
Several PACs involved
The report indicates that the money was reportedly moved through PACs Make America Great, Save America, and MAGA Inc. But Alex Pfeiffer, a spokesman for MAGA Inc., allegedly said, “This is old, recycled news,” adding, “Every dollar being raised by MAGA Inc. is going directly to defeating Joe Biden in November.”
Disaster looming
Trump was recently ordered to pay E. Jean Carroll over 80 million dollars in a defamation lawsuit. The former president is waiting for Judge Engoron’s ruling in New York Attorney General Letitia James’ $370 million fraud case.
“Financial tsunami”
Apart from that, Trump is facing trials connected to alleged attempts to overturn the 2020 elections, alleged hush-money payment, and alleged mishandling of classified documents, which the Post described as a “financial tsunami from civil litigation.”
Waiting for Judge Engoron
Former federal prosecutor Neama Rahmani said that the dissolution of a business for financial fraud is “the financial death penalty.” Rahmani told Salon, “Engoron has already tipped his hand by granting summary judgment before the trial. I expect him to ban Trump from doing business in New York and appoint a receiver to oversee the dissolution of his entities.”
Haberman on CNN
Haberman was on CNN, where she spoke to the host Wolf Blitzer and explained, “I believe he’s looked at all these court stops as part of his campaign because he’s seen some political benefit for lumping them together.”
The reporter had more to say
Haberman continued, “I also think this did involve a financial judgment, and I think that he thought he was going to show up and try to sell the jury essentially. It obviously did not work.”
The questions about the Trump Organization
Haberman said, “Trump never likes parting with money, and so there is no way he’s happy at the moment, either about the E. Jean Carroll verdict or the fact that he is going to have to pay some penalty in the civil fraud trial.” She continued, “Exactly what it means for his company and personal finances, we don’t know, but it doesn’t mean anything good. This is a lot of liquid, a lot of question about how much cash on hand Trump actually has.”
Bloomberg’s warning
Bloomberg warned that Trump is at risk of “wiping out most — if not all — of the cash the billionaire says he has on hand.” The Bloomberg Billionaires Index wrote that the former president’s liquid assets are reportedly around 600 million, though the outlet admitted no one is certain about Trump’s exact financial status.
Predictions rise to 450 million dollars
Two damage trials could cost Trump around 450 million dollars. But Alina Habba, Trump’s attorney in both New York cases, said the financial damages were “clearly all by design and the epitome of selective prosecution against the clear Republican nominee.”
Trump in April 2023
In April last year, the former president said, “I believe we have substantially in excess of $400 million in cash, which is a lot for a developer.” He admitted, “My biggest expense is probably legal fees, unfortunately.”
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