Current:Home > MarketsDonald Trump expected back at civil fraud trial with fixer-turned-foe Michael Cohen set to testify -MoneyStream
Donald Trump expected back at civil fraud trial with fixer-turned-foe Michael Cohen set to testify
Poinbank Exchange View
Date:2025-04-10 10:58:54
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! (245)
Related
- Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
- Jack Nicholson, Spike Lee and Billy Crystal set to become basketball Hall of Famers as superfans
- Whoopi Goldberg slams Trump for calling 'View' hosts 'dumb' after Kamala Harris interview
- A hiker dies in a fall at Arches National Park in Utah
- Charges tied to China weigh on GM in Q4, but profit and revenue top expectations
- Rihanna's All-Time Favorite Real Housewife Might Surprise You
- Obama’s callout to Black men touches a nerve among Democrats. Is election-year misogyny at play?
- Oregon’s most populous county adds gas utility to $51B climate suit against fossil fuel companies
- Jorge Ramos reveals his final day with 'Noticiero Univision': 'It's been quite a ride'
- Horoscopes Today, October 11, 2024
Ranking
- Person accused of accosting Rep. Nancy Mace at Capitol pleads not guilty to assault charge
- Ex-US Army soldier asks for maximum 40 years in prison but gets a 14-year term for IS plot
- 'NBA Inside Stuff' merged NBA and pop culture before social media. Now it gets HOF treatment.
- Green Party presidential candidate files suit over Ohio decision not to count votes for her
- What do we know about the mysterious drones reported flying over New Jersey?
- Nevada high court to review decision in ex-Raiders coach Jon Gruden’s lawsuit over NFL emails
- Pat Woepse, husband of US women’s water polo star Maddie Musselman, dies from rare cancer
- Massachusetts pharmacist gets up to 15 years in prison for meningitis outbreak deaths
Recommendation
Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
Poland’s leader plans to suspend the right to asylum as country faces pressure on Belarus border
Singer El Taiger Dead at 37 One Week After Being Found With Gunshot Wound to the Head
Prepare for Hurricane Milton: with these tech tips for natural disasters
The Best Stocking Stuffers Under $25
Your 12-foot skeleton is scaring neighborhood dogs, who don't know what Halloween is
Stormzy Shares Kiss With Victoria Monét 3 Months After Maya Jama Breakup
'It's relief, it's redemption': Dodgers knock out rival Padres in NLDS with total team effort