Conservative lawyer George Conway predicted that the New York business fraud case against former President Trump will financially ruin him, saying he will have to “liquidate everything” after a damages ruling.
“He’s making mistakes. He’s babbling incoherently even more than usual, This is striking,” Conway said in an MSNBC interview Monday. “He was the mogul with ‘The Apprentice,’ and he’s been that in New York for 50 years.
“And now it’s coming crashing down,” he added.
The New York case alleges that Trump and his adult sons — Donald Trump Jr. and Eric Trump — intentionally inflated and deflated the value of their business assets in order to get better terms on loans and insurance. While Judge Arthur Engoron already ruled that the fraud occurred, the ongoing trial is set to determine damages.
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Prosecutors are seeking $250 million in penalties, as well as a ban on Trump and his sons running businesses in New York. Losing their business licenses, Conway said, is what will seriously hurt the former president.
“That puts him out of business, which means he’s going to have to liquidate everything, including places like Mar-a-Lago which are owned by New York LLCs,” he said. “But then the question of how much of the proceeds of those sales, when he has to be put out of business, go to the state of New York. And that’s what this is about.”
“This is a death blow to Trump’s businesses,” Conway argued.
Trump’s New York trial has been rocky so far, with Engoron levying two fines on the former president for violating a limited gag order, and Trump leaving the courtroom in a huff last week following testimony from his former attorney Michael Cohen.
The former president and his sons are expected to take the stand in the case starting next week.
Conway, a prominent Trump critic, was previously married to former Trump adviser Kellyanne Conway.