Michael Cohen Testifies for Second Day in Trump's Fraud Trial, Defense Attempts to Undermine Credibility
Cohen Claims Trump "Arbitrarily" Inflated His Net Worth, as New York Attorney General Seeks $250 Million in Civil Fraud Case; Trump's Defense Team Attempts to Discredit Cohen Over Past Criminal Convictions.
- Michael Cohen, former Trump Organization executive and once one of Trump's closest confidants, has testified in Donald Trump's New York civil fraud trial for a second day, accusing Trump and the company's CFO of 'reverse engineering' financial statements to meet valuations selected by Trump.
- Cohen testified that Trump personally authorized fraudulent inflation of his own net worth and property values, while the New York Attorney General is seeking $250 million in the case, accusing Trump and his co-defendants of fraudulently inflating asset values for their personal gain.
- Trump's defense team attempted to discredit Cohen, focusing on his past criminal convictions, including a guilty plea for tax evasion in 2018 - a claim Cohen now refutes - to portray him as untrustworthy.
- Cohen is a central witness not only in this civil fraud case brought by New York Attorney General Letitia James, but also in a separate criminal case against Trump brought by Manhattan District Attorney Alvin Bragg earlier this year.
- Trump's legal complications extend beyond this case, with three of his election campaign attorneys recently agreeing to testify in the Georgia election tampering case, while Cohen's accusation of inflated business and asset valuations resonate across multiple ongoing legal proceedings.
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