A Trump Boast From Years Ago Could Destroy His Legal Defense

During the Presidential debates in 2016, Donald Trump famously bragged that he was "smart" for not paying his taxes. Now that his company has been indicted for a scheme that involved not paying taxes, those words are coming back to haunt Trump at the worst possible time. This admission could give prosecutors all they need to dig deeper into his financial records, as Farron Cousins explains.

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*This transcript was auto-generated. Please excuse any typos.

Do you remember back during the 2016 presidential election, those debates between Donald Trump and Hillary Clinton? Well, think

Back to that for a minute. Remember the time

When Hillary Clinton mentioned that Donald Trump doesn't pay taxes and his response was

That's because I'm smart

Or something to that effect, he mentioned that he was smart because he didn't pay taxes. Yeah. That was a, that was in the fall of 2016. And then of course, as we all know, last week, his business got indicted for a scheme

To not pay taxes, that

Little clip, that little statement from Donald Trump all the way back in 2016 may have absolutely destroyed any legal defense that his team may be putting together. And I sincerely hope the prosecutors have gone and taken that clip and they've got it, got it archive, got it, transcribed all, whatever they need to do

To bring it up in court, because

Here's the thing we knew all the way back then. And the guy admitted it that for some reason, and he wasn't paying taxes, but he said it made him a smart businessman, not a

Well now we're understanding just how corrupt your company was. And again, when you most

About not paying taxes, then five years later, your business gets popped for not paying taxes. Yeah. It's not that difficult for everybody to put the pieces of that puzzle together. And I think that's one of the biggest things we need to be focusing on in the wake of last week's indictment, Donald Trump admitted he doesn't pay taxes and now his company's indicted for not paying taxes that conspiracy to not pay taxes.

Yeah. That's

Not going to play well in front of a jury. It certainly is not going to bode well for your legal defense when you've already admitted that it makes us smart to not do the thing you might end up being accused of doing. But more importantly, it does

Give prosecutors a little more leeway

If they need to look deeper into Donald Trump's financial

Records. Now we already know that yes,

The investigation is still ongoing. What we got this past week really was an appetizer we're just weighed on the main course at this point. And that main course could be a key phrase from those indictments last week, unindicted co-conspirator number one. And number one might be Donald Trump himself because it's unlikely that Allen Weisselberg cooked up this entire scheme, this 15 year scheme on his own, right. He was able to cook his own books, cook the books at the Trump organization. My God, the guy would have to be some kind of, you know, tax criminal mastermind. In order to this off, he would also have to pull the wool over the eyes of every single executive, every person that had access to the financials at the Trump organization in order to do it. And that's simply not possible. I don't, I think Trump's boast from 2016 was just him bragging about being smart.

At this point,

It almost seems like an admission that something

Wasn't right. Because

Again, we now know something wasn't right, but let's also not forget for a second that those prosecutors in New York do have their hands on Donald Trump's personal financial records. They wouldn't have sought those records if they didn't think there was something in there that could possibly lead them to criminal activity. And none of that was mentioned in any of the indictments that came out this past week.

There is a lot more out there and eventually we're going to find

Out exactly what all that is. And of course, we're going to find out who unindicted co-conspirator number one is, but my safe money says unindicted. Co-conspirator number one is the guy at the top of the company and that's Donald himself.