In a recent development, former President Donald Trump and his ex-attorney, Michael Cohen, found themselves sharing the same courtroom on Tuesday.
Cohen, who once famously declared his willingness to "take a bullet" for Trump, testified against the Trump Organization in an ongoing civil trial. This trial is the result of a prolonged investigation led by New York Attorney General Letitia James.
Cohen, who appeared in a Manhattan courtroom, testified that he had inflated Trump's assets to "whatever number Trump told us to" during his tenure at the Trump Organization. "I was tasked by Mr. Trump to increase the total assets, based upon a number that he arbitrarily elected," Cohen stated during his court appearance.
Further, Cohen testified that he and the former CFO of the Trump Organization, Allen Weisselberg, collaborated to "reverse-engineer the various different asset classes, increase those assets, in order to achieve a number that Mr. Trump had tasked us."
In a separate case in 2022, Weisselberg pleaded guilty to tax violations that spanned over a decade, as per the Manhattan District Attorney's Office.
Trump, on the other hand, has consistently denied any wrongdoing. He has repeatedly asserted that his assets were undervalued and that his financial statements contained disclaimers, urging banks to evaluate the numbers.
Trump, who has been present in court on certain days of the civil trial, attended the proceedings on Tuesday. He criticized Cohen, referring to him as a "proven liar." "I'm not worried at all about his testimony," Trump stated. "He's not a credible witness."
In 2018, Cohen pleaded guilty to campaign finance violations, making false statements to Congress, and tax evasion. He was subsequently sentenced to three years in prison. Throughout Cohens testimony, Trump was observed shaking his head.
Earlier this month, Trump voluntarily dismissed his lawsuit against Cohen. However, he pledged to refile against him once he "prevailed" in the "witch hunts against him." In April, Trump had sued Cohen for $500 million, alleging that Cohen breached his attorney-client relationship by "spreading falsehoods" about Trump and breaching the terms of a confidentiality agreement he signed as a condition of his employment with Trump.
The lawsuit alleged that Cohen spread falsehoods about Trump "with malicious intent and to wholly self-serving ends." It detailed Cohens "myriad of public statements, including the publication of two books, a podcast series, and innumerable mainstream media appearances," while ignoring "cease and desist" orders.
"Once President Trump has prevailed in dealing with the witch hunts against him, he will continue to pursue his claims against Michael Cohen, who rightfully deserves to, and will be held accountable for his unlawful words and actions just as the Southern District of New York held him accountable for numerous non-Trump related acts and crimes, making Cohen a very proud felon," a Trump spokesperson told Fox News Digital in a statement.
Cohens testimony comes amid the civil trial that stems from James investigation. James, a Democrat, filed a lawsuit against Trump last year, alleging that he and his company misled banks and others about the value of his assets. She also alleged that Trump "inflated his net worth by billions of dollars" and that his children assisted him in doing so.
New York Judge Arthur Engoron, presiding over the trial, ruled last month that Trump and the Trump Organization committed fraud while building his real estate empire. They deceived banks, insurers, and others by overvaluing his assets and exaggerating his net worth on paperwork used in making deals and securing financing.
Engoron also fined Trump $5,000 for violating the partial gag order he imposed this month and warned the former President and current GOP front-runner that future violations could result in imprisonment.
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