The thrilling saga between Donald Trump’s former lawyer, Michael Cohen, and the former president continues to evolve. This time, during his civil trial in New York, Cohen openly accused Trump of orchestrating a fraud aimed at increasing the value of his real estate assets.
The case in question concerns an accusation of overvaluing Donald Trump’s real estate assets by billions of dollars in order to obtain more favorable loans from banks. New York State Attorney General Letitia James also accused Trump’s children, Eric and Donald Jr., as well as two Trump Organization executives, of participating in the fraud.
During his testimony, Michael Cohen said he was ordered by Donald Trump to increase the value of his assets, regardless of financial reality. According to him, Trump arbitrarily set a number and it was his responsibility, as well as that of the Trump Organization’s chief financial officer, Allen Weisselberg, to reverse engineer the assets to achieve that number.
Cohen also claimed that Trump was using this overvaluation to appear on the Forbes list of the richest people, showing his power and economic influence.
Trump’s lawyers immediately attempted to discredit Cohen, pointing to crimes he had pleaded guilty to in the past, including tax evasion and making false statements. They also questioned his credibility, calling him a “serial liar.”
This affair is not likely to land Donald Trump in prison, but it jeopardizes his real estate empire. The judge has already established the facts of fraud and ordered the confiscation and liquidation of certain companies belonging to Trump. However, these measures were suspended on appeal. The trial now focuses on other charges, such as insurance fraud, as well as the $250 million financial penalties sought by the attorney general.
Michael Cohen is also a key witness in other upcoming criminal trials against Donald Trump, including those related to payments to cover up embarrassing affairs during the 2016 presidential campaign. His conviction for violating campaign finance laws stems from $130,000 payment to actress Stormy Daniels to keep silent about her alleged relationship with Trump.
This legal case continues to tarnish the reputation and political ambitions of Trump, who is currently favored in the polls for the Republican primaries for the 2024 presidential election. Another lawyer, Jenna Ellis, recently pleaded guilty in a case of attempted overturning the 2020 election result in Georgia, a case in which Trump is also accused.
In conclusion, the legal battle between Michael Cohen and Donald Trump continues, with explosive accusations and revelations that threaten to disrupt Trump’s real estate empire and damage his political credibility. Only time will tell what the final consequences of this affair will be on the life of the former American president.