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Watergate Prosecutor Explains What Could ‘Totally Wipe Out’ Trump

by : Cameron Frew on : 24 May 2021 15:39
Watergate Prosecutor Explains What Could 'Totally Wipe Out' TrumpPA Images

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.

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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.

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Donald Trump next to American flag (PA Images)PA Images

‘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.

A Trump protester in Scotland. (PA Images) PA Images
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‘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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Cameron Frew

After graduating from Glasgow Caledonian University with an NCTJ and BJTC-accredited Multimedia Journalism degree, Cameron ventured into the world of print journalism at The National, while also working as a freelance film journalist on the side, becoming an accredited Rotten Tomatoes critic in the process. He's now left his Scottish homelands and taken up residence at UNILAD as a journalist.

Topics: News, Donald Trump, Now, US

Credits

Forbes
  1. Forbes

    #1299 Donald Trump