Donald Trump’s ex-lawyer Michael Cohen has once again made headlines during his civil trial in New York. Accused of having participated in a fraud aimed at inflating the value of the former US president’s real estate assets, Cohen revealed interesting details during his testimony.
According to Cohen, he was instructed by Donald Trump himself to increase the value of his real estate assets, based on an arbitrary figure set by the former president. Cohen claims that Trump could decide his net worth at any time, saying things like “I’m not worth $4.5 billion, I’m worth closer to $6 billion.” Cohen and Trump Organization CFO Allen Weisselberg then allegedly worked together to reverse engineer the assets and increase them to reach the figure Trump requested.
Although these allegations are strongly denied by Donald Trump himself, the fact that Cohen was Trump’s lawyer and right-hand man for many years gives him some credibility. However, Trump and his lawyers have been quick to question Cohen’s credibility, noting that he has already pleaded guilty to several charges, including tax evasion and making false statements to Congress. They called him a “serial liar.”
The ongoing civil lawsuit is being led by New York State Attorney General Letitia James, who accuses Trump and his children, Eric and Donald Jr., as well as two Trump Organization executives, of overvaluing their properties to obtain more advantageous loans. If Trump does not face prison in this case, the financial consequences could be significant, with financial penalties claimed to the tune of $250 million.
This civil lawsuit is also one of the many legal problems facing Donald Trump. Cohen is also a key witness in one of the Republican billionaire’s four upcoming criminal trials over payments intended to cover up embarrassing deals during the 2016 presidential election. The court cases are disrupting Trump’s alleged campaign for Republican primaries for the 2024 presidential election.
In conclusion, Michael Cohen’s civil lawsuit against Donald Trump continues to make waves in the media. Cohen’s statements about Trump’s role in real estate fraud raise questions about the former president’s integrity and highlight the numerous legal battles he faces. It remains to be seen what the long-term consequences of this affair will be for Trump and his real estate empire.