Michael Cohen cautioned on Monday that ex-President Trump might seek funds from foreign nations to cover his increasing debts, following a statement from Trump's attorneys claiming they couldn't obtain the full bond required for his New York fraud case.
Cohen, who used to be Trump's lawyer before their fallout, expressed worry about the source of the money, especially if it comes from foreign entities, during an interview with MSNBC’s “Deadline: White House.”
He raised questions about the potential sources of the money, such as whether it's from American companies or from countries like Saudi Arabia, Qatar, or possibly through indirect channels from Russia.
He stressed the serious implications of Trump owing money to foreign entities and how it could compromise America’s security.
Earlier on Monday, Trump’s legal team indicated in court filings that it will be “impossible” for them to secure the $454 million bond due in his New York fraud case.
His lawyers revealed that they had spent significant time negotiating with a major insurance company and approaching 30 other companies to back the bond.
A New York judge ordered Trump to pay nearly $355 million, plus interest, for lying about his net worth, resulting in tax and insurance benefits. The total amount now stands at over $454 million, accumulating almost $112,000 in interest each day. The situation, according to Cohen, could pose a threat to national security if Trump were to be elected for a new term as president. Cohen argued that Trump’s actions jeopardize national security and democracy, making him a significant danger to the country.
Democratic Rep. Sean Casten (Ill.) echoed a
similar point on social media
. He stated that Trump's desperation for a large sum of money that he cannot access personally makes him a major national security risk, as any foreign adversary looking to influence the president would know the price. Trump’s campaign did not immediately respond to a request for comment.Monday’s filings came nearly a week after a federal judge approved Trump’s $91 million bond in a separate defamation case, for which he found an insurance company to underwrite the bond.
Documents showed that the insurance company Chubb underwrote Trump’s bond in the defamation case, but the exact sum of money or collateral required from the former president was not immediately clear.
Trump has accrued substantial legal fees across these cases, in addition to the four criminal cases he is facing.
Federal election records released earlier this year indicated that his fundraising committees spent nearly $30 million on legal fees during the second half of 2023.
Filings in February stated that Trump’s Save America leadership PAC spent nearly $3 million in legal consulting fees in the first month of this year. spent almost $3 million in legal consulting fees in the initial month of this year.
Michael Cohen cautioned on Monday that former President Trump might attempt to obtain money from foreign nations to cover his increasing bills after his former employer’s attorneys claimed it was 'impossible' for them to obtain the full bond required in his New York fraud case. 'As citizens, we should be very worried about where that money… spent nearly $3 million in legal consulting fees in the first month of this year.
