Michael Cohen, a former Trump Organization insider, testified in a state court that his ex-boss, Donald Trump, directed him to manipulate numbers on the annual financial statements to reflect his preferred net worth. Patrick Birney, an employee of the Trump Organization, testified in court that a senior executive informed him that Trump wanted the figures on his annual statements to show a larger bottom line. These statements were submitted to banks and insurance companies.
The trial and testimony took place over six weeks. The suit was brought against Trump by New York Attorney General Letitia James over allegations that the former president, his adult children, and their company deliberately inflated property values to secure better financial deals. Among the witnesses were Trump himself, his adult children, and Claudia Mouradian, an insurance underwriter. This included testimony that documents were tampered with to bolster financial statements.
New York Attorney General Letitia James filed the lawsuit last year, seeking at least $250 million in fines and a bar on the Trump family from operating in New York. George Washington University law professor Stephen A. Saltzburg said in an interview that even though no direct link has been established, the inconsistencies in the financial statements could hold those who signed the documents responsible.
The case has raised questions about Trump’s credibility as a business figure. However, the defense argues that there were no victims in the case and nothing illegal occurred. This civil case, which is not a criminal trial, will also not result in any prison sentences despite the mounting legal troubles for Trump. Although it poses no risk of jail time, the case is significant given Trump’s position as a presidential candidate for the Republican nomination.
