Current:Home > StocksDonald Trump expected back at civil fraud trial with fixer-turned-foe Michael Cohen set to testify -InvestSmart Insights
Donald Trump expected back at civil fraud trial with fixer-turned-foe Michael Cohen set to testify
View
Date:2025-04-18 11:12:44
NEW YORK (AP) — Michael Cohen once proclaimed he’d “take a bullet” for Donald Trump. Now, after breaking with the former president amid his own legal troubles, the fixer-turned-foe is poised to testify against his old boss Tuesday as a key witness at the civil fraud trial that threatens to upend Trump’s real estate empire and wealthy image.
Trump is expected to be in court for the highly anticipated testimony, detouring from his usual campaign haunts to the Manhattan courtroom for a sixth day this month. Cohen scrapped their expected showdown last week, citing a health issue. Cohen has said it will be his first time seeing Trump in five years.
Trump attended the trial for two days last week — having planned the trip when it was expected that Cohen would be testifying. Trump was also in court for the trial’s first three days in early October. The trial wasn’t held Monday because of issues related to an apparent COVID-19 exposure. Trump is expected to testify later in the trial. All of his trips to the case so far have been voluntary.
Each time, the front-runner for the 2024 Republican presidential nomination has complained to TV cameras in the courthouse hallway about a case he’s derided as a “sham,” a “scam” and “a continuation of the single greatest witch hunt of all time.”
New York Attorney General Letitia James’ lawsuit alleges that Trump and top executives at his company, the Trump Organization, conspired to pad the business mogul-turned-politician’s net worth by billions of dollars on financial statements provided to banks, insurers and others to make deals and secure loans.
The judge, Arthur Engoron, has already ruled that Trump and his company committed fraud, but the trial involves remaining claims of conspiracy, insurance fraud and falsifying business records.
As punishment, Engoron ordered that a court-appointed receiver take control of some Trump companies, putting the future oversight of Trump Tower and other marquee properties in question, but an appeals court has blocked that for now.
Trump denies any wrongdoing. He says his assets were actually undervalued and maintains that disclaimers on his financial statements essentially told banks and other recipients to check the numbers out for themselves.
Cohen spent a decade as Trump’s fiercely loyal personal lawyer before famously turning on him in 2018 amid a federal investigation that sent Cohen to federal prison. He is also a major prosecution witness in Trump’s separate Manhattan hush-money criminal case, which is scheduled to go to trial next spring.
James, a Democrat, has credited Cohen as the impetus for her civil investigation, which led to the fraud lawsuit being decided at the trial. She cited Cohen’s testimony to Congress in 2019 that Trump had a history of misrepresenting the value of assets to gain favorable loan terms and tax benefits.
Cohen gave copies of three of Trump’s financial statements to the House Committee on Oversight and Reform. Cohen said Trump gave the statements to Deutsche Bank to inquire about a loan to buy the NFL’s Buffalo Bills and to Forbes magazine to substantiate his claim to a spot on its list of the world’s wealthiest people.
Cohen went to prison after pleading guilty in 2018 to tax evasion, lying to Congress and campaign finance violations, some of which involved his role in arranging hush-money payments to women during Trump’s 2016 campaign.
Earlier this month, Trump dropped a $500 million lawsuit that accused Cohen of “spreading falsehoods,” causing “vast reputational harm” and breaking a confidentiality agreement for talking publicly about the hush-money payments.
But a Trump spokesperson said he had only decided “to temporarily pause” the lawsuit as he mounts another campaign for the White House and fights four criminal cases, but said he would refile at a later date.
With Trump expected in court for Cohen’s testimony, it’ll be the ex-president’s first time at the trial since Engoron fined him $5,000 on Friday because a disparaging social media post about a key court staffer lingered on his campaign website for weeks after it was ordered deleted.
___
Follow Sisak at x.com/mikesisak and send confidential tips by visiting https://www.ap.org/tips.
veryGood! (95424)
Related
- Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
- Selena Gomez Celebrates 31st Birthday With Paris Hilton, Christina Aguilera and Other Friends
- Feel Free to Salute These Secrets About Saving Private Ryan
- Your Chilling First Look at Kim Kardashian, Emma Roberts & Cara Delevingne in AHS: Delicate Teaser
- Global Warming Set the Stage for Los Angeles Fires
- Love Island U.K.'s Molly-Mae Hague and Tommy Fury Engaged After Welcoming Baby
- Toby Keith to Receive Country Icon Award at the 2023 People's Choice Country Awards
- You'll Buzz Over Samuel L. Jackson's Gift to Scarlett Johansson and Ryan Reynolds for Their 2008 Wedding
- South Korea's acting president moves to reassure allies, calm markets after Yoon impeachment
- As an Obscure United Nations Gathering Deliberates the Fate of Deep-Sea Mining, the Tuna Industry Calls for a Halt
Ranking
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Parker McCollum Defends Miranda Lambert and Jason Aldean Amid Recent Controversies
- Prince George Is All Grown Up and Here to Make You Feel Old in 10th Birthday Portrait
- Teen Mom's Cheyenne Floyd Reveals Her Secret to Co-Parenting With Ex Cory Wharton
- See you latte: Starbucks plans to cut 30% of its menu
- Tour de Lust Influencer Christine Tran Ferguson Shares Her 15-Month-Old Son Asher Has Died
- Gisele Bündchen's Look-Alike Daughter Vivian Is All Grown Up as Model Celebrates 43rd Birthday
- Sister Wives' Christine Brown Shares Engagement Photos With Her True Love David Woolley
Recommendation
Taylor Swift makes surprise visit to Kansas City children’s hospital
Timothée Chalamet and Adam Sandler Prove They’re BFFs While Playing Basketball in NYC
Vanderpump Rules Star Ariana Madix's Favorite Revenge Look Will Surprise You
How Kim and Kourtney Kardashian Ended Their Feud—for Now
Meet first time Grammy nominee Charley Crockett
Megan Fox Bares Her Butt and Nipples in Steamy Photo Shoot
Sink Your Teeth Into These Juicy Secrets About The Vampire Diaries
Shakira Brings Her 2 Sons as Her Dates to 2023 Premios Juventud