George Conway, a conservative lawyer, has predicted that the New York business fraud case against former President Trump will lead to financial ruin for him. Conway stated in an MSNBC interview on Monday that Trump will have to “liquidate everything” after a damages ruling. He also pointed out that Trump’s recent behavior has been concerning, stating, “He’s making mistakes. He’s babbling incoherently even more than usual. This is striking.” Conway highlighted that Trump’s business empire, which he had built over the past 50 years, is now on the verge of collapse.
The New York case accuses Trump and his adult sons, Donald Trump Jr. and Eric Trump, of intentionally manipulating the value of their business assets to secure better loan and insurance terms. While Judge Arthur Engoron has already ruled that fraud occurred, the ongoing trial will determine the damages. Prosecutors are seeking $250 million in penalties and a ban on Trump and his sons from running businesses in New York. Conway emphasized that losing their business licenses would have a severe impact on the former president.
Conway further explained that losing his business licenses would force Trump to liquidate all his assets, including properties like Mar-a-Lago, which are owned by New York LLCs. The proceeds from these sales would then be subject to the state of New York’s claims. Conway stated, “This is a death blow to Trump’s businesses.” The trial has not been smooth for Trump, as he has already faced two fines for violating a limited gag order, and he left the courtroom in frustration last week after his former attorney Michael Cohen testified.
In the upcoming weeks, both Trump and his sons are expected to testify in the case. Conway, known for his criticism of Trump, was previously married to former Trump adviser Kellyanne Conway.
