Watergate Prosecutor Explains What Could ‘Totally Wipe Out’ Trump
A former Watergate investigator has explained how The Trump Organization could be ‘totally wiped out’ in the coming months.
Former US president Donald Trump is the subject of several lawsuits in the wake of his time in the White House, with allegations of fraud, misuse of funds and inciting the Capitol riots in January. During his term, he emerged on the other side of two impeachment trials.
However, in addition to losing his bid for re-election, Trump’s publicity is often negative, with perpetual mocking online and feral responses from his MAGA supporters. His worsened public image could lead to his downfall.
Jill Wine-Banks, an investigator and prosecutor in the infamous Watergate scandal, recently appeared on MSNBC to discuss Trump and how his brand is endangering the longevity and feasibility of his organisation.
‘His popularity has diminished greatly. His properties are of less value now. Many buildings are taking the name Trump off of them because it is a deterrent to people, either playing golf at his golf courses or a deterrent to people buying condos in his buildings,’ she explained.
‘So, it will hurt his bottom line both in terms of penalties – think about how many millions he may owe the federal government on the long-festering audit that he said was the reason he couldn’t turn over his financial records,’ she added.
Trump’s net worth currently stands at $2.4 billion, according to Forbes, with assets totalling $3.7 billion and debts of around $1.13 billion. Earlier this year, he fell nearly 300 places on the world billionaires list, a result of his refusal to divest his assets when he became POTUS and his crumbling image in the public eye.
‘Think about the bank loans that we know are coming due, and his income has gone down as best everybody can tell from all the reporting. So, where is he going to get the money to pay back those loans, and now a lot of banks will simply not lend to him anymore. So, how is he going to change the source of income to pay back the original lender with new lenders? So, it could totally wipe out The Trump Organization,’ Wine-Banks said.
‘There are some questions about some fraud in real estate and in defrauding people who bought condos. All of that mounts up, and eventually, the money runs out. So, he should be worried not just about whether he will be charged with a crime and whether a jury will convict him, but with being bankrupted,’ she added.
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