Michael Cohen denied rumors that Trump will run for president.
It would limit Trump's ability to spend money he has raised.
Cohen was once Trump's right-hand man, but is now a bitter critic.
Michael Cohen, Donald Trump's ex- personal attorney, said he believes the former president is unlikely to launch another White House bid in 2024 as it would affect his ability to spend the millions he raised in political funds in the way he wants to.
Cohen cast doubt on the rumors that Trump is getting ready to run for president.
The great grift would be destroyed by it. All the money would go into a campaign fund if he ran. Cohen said that people would have to start saying who they are.
He wants that more than they do.
—Ali Velshi (@AliVelshi) October 16, 2022
If they were campaign funds, Cohen said Trump would not have as much discretion over how he spent his money.
He said it was a slush fund. He can either buy himself a new plane or fix his old one.
The power to spend money raised through a political action committee is pretty much unlimited.
He won't be able to spend the funds on his campaign if he decides to run.
He can't use the money he's already raised for political purposes.
He would be more limited in spending his money than he is now.
Cohen pleaded guilty to a number of crimes, including lying to Congress and campaign finance violations, in order to get a reduced prison sentence.
He has become one of the former president's most adamant critics, claiming that Trump is a con man.
Trump accused Cohen of being a liar. Insider reached out to his representatives.
Since leaving office, Trump has raised $387 million through his various ventures.
These have mostly taken the form of small donations raised on the basis of issues such as his bogus claim the 2020 election was stolen from him.
Trump gave a relatively small amount of money to many of the Republican candidates he has endorsed.
Business Insider has an article on it.
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