October 26, 2023

Cohen Testifies That Trump Inflated Worth of Assets

Michael Cohen testified in a New York trial against former President Donald Trump's business on Tuesday, claiming Trump often inflated the value of his assets.

The ex-Trump fixer could serve an important part in the case that could cost Trump's organization $250 million and the ability to do business in New York.

"Cohen is a star witness in New York Attorney General Letitia James’s (D) case, testifying to its core allegation: The former president’s company engaged in decades of fraud by falsely inflating and deflating the value of its assets to receive lower taxes and better insurance coverage," the Hill reported.

"Cohen’s past disclosures about Trump’s net worth helped spur her investigation," it added.

"Cohen, a key witness in the former president's civil fraud trial, took the witness stand again Wednesday morning after a brief but heated cross-examination Tuesday by Trump's lawyer, Alina Habba," Newsweek reported.

"Habba accused Cohen of being a repeat liar and attempted to get Cohen to admit to lying in past criminal trials, according to those who reported from the New York courtroom," it continued.

Trump has denied wrongdoing in the fraud lawsuit from James and has accused Cohen of lying during his testimony.

The former president was also fined $10,000 this week for violating a gag order in the case.

Trump briefly took the stand during the case in which he was fined and warned not to break the order again.

The ongoing trial serves as one of several cases against Trump as he seeks a comeback bid for the White House in a potential rematch against President Joe Biden in 2024.

Don't Wait
We publish the objective news, period. If you want the facts, then sign up below and join our movement for objective news:
Top stories
Get news from American Digest in your inbox.
By submitting this form, you are consenting to receive marketing emails from: American Digest, 3000 S. Hulen Street, Ste 124 #1064, Fort Worth, TX, 76109, US, You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact.