In a dramatic turn during the New York trial against former President Donald Trump, Michael Cohen, Trump’s former lawyer, admitted to stealing tens of thousands of dollars from Trump’s business. This revelation, which came during Cohen’s testimony, has added another layer of complexity to an already high-profile case centered on financial misconduct and fraudulent business practices.
Cohen, who once described himself as willing to “take a bullet” for Trump, testified that he had indeed embezzled funds from the Trump Organization. This admission comes amidst allegations that Trump directed Cohen to make hush money payments to adult film actress Stormy Daniels and former Playboy model Karen McDougal to silence claims of extramarital affairs, which Trump denies.
The prosecution’s case hinges on proving that Trump falsified business records to conceal these payments, a felony if done to commit or conceal another crime. Cohen’s confession that he misappropriated funds complicates his credibility. Cohen claimed he was reimbursed for these payments through a series of checks disguised as legal fees, approved by the organization’s controller, Jeffrey McConney, and former CFO Allen Weisselberg.
During his testimony, Cohen elaborated on the culture of deceit he claims was prevalent within Trump’s business operations. He recounted how Trump allegedly inflated his assets’ value to secure favorable loans and insurance premiums, a practice designed to portray a more robust financial health than what was real. Cohen described how he and Weisselberg would adjust figures to meet arbitrary asset values dictated by Trump.
In response, Trump’s legal team has sought to discredit Cohen, labeling him a “serial liar” and emphasizing his criminal past. Trump himself has dismissed Cohen’s allegations as fabrications from a disgraced felon seeking revenge. Despite these attacks, Cohen maintains that his actions were conducted under Trump’s directives, aiming to protect his then-boss from personal and political fallout.
CNN senior legal analyst Elie Honig stated on Monday on his network’s coverage of former President Donald Trump’s business record trial that witness Michael Cohen admitting he stole money from the Trump organization is a more serious crime than what Trump is charged with.
Honig said, “The way this was raised and addressed on direct is what Julia Louis-Dreyfus would call, ‘Yada yada yada.’ I mean here’s what Michael Cohen said.”
Host Dana Bash said, “I think that was George Costanza.”
Host Jake Tapper said, “No, no, no it was Elaine.”
Honig said, “It was Elaine.”
Tapper said, “It was actually a girl Costanza was dating. Sorry go ahead.”
Honig continued, “The direct testimony the way Michael Cohen explained what happened. Michael Cohen explained this whole thing, quote ‘That’s what was owed and I didn’t feel Mr. Trump deserved the difference.’ That’s a lot different than ‘I stole $60,000 from my boss on the transaction at the heart of this case.’ And by the way, the fact that he was ever charged with larceny is important because stealing $60,000 through fraud, which would be larceny in New York State, is more serious of a crime than falsifying business records.”
As the trial progresses, the interplay between Cohen’s confessions and the defense’s efforts to undermine his credibility will be critical in shaping the jury’s perception. The outcome could have significant ramifications not only for Trump’s business but also for his political future, as he remains a potent figure within the Republican Party. The proceedings are a reminder of the complex and often contentious nature of high-stakes legal battles involving prominent public figures.
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Eric Thompson