Trump valued holdings at 'whatever number' he picked, Michael Cohen testifies
By Jack Queen and Luc Cohen
NEW YORK (Reuters) -Donald Trump's former lawyer and fixer Michael Cohen testified on Tuesday that he manipulated the values of the former U.S. president's real estate properties to match «whatever number Mr. Trump told us.»
Testifying as a key witness in New York Attorney General Letitia James' civil fraud case against Trump, Cohen said Trump tasked him and other former Trump Organization executives with doctoring financial statements to boost the value of the company's holdings and secure better real estate premiums.
«He would say, 'I'm actually not worth $4.5 billion, I'm really worth more like 6 (billion),» Cohen said, adding that Trump arrived at the valuations of his assets «arbitrarily.»
Tuesday's testimony marked a highly anticipated reunion of the allies-turned-bitter-foes.
Trump initially leaned back in his chair with his arms folded and stared intently at Cohen as he testified, but spent most of the day hunched over the defendant's table, occasionally watching Cohen and speaking to his lawyers.
Cohen is expected to return to the witness stand on Wednesday for cross-examination by Trump's lawyers. Trump told reporters after exiting the courtroom that he would return on Wednesday as well.
Cohen testified that he and onetime Trump Organization chief financial officer Allen Weisselberg would mark up line items by hand using red ink in Trump's financial statements after the former president told them the numbers were too low.
The testimony came during the fourth week of a trial in New York state court in Manhattan stemming from a lawsuit that James, a Democrat, brought against Trump and his family company last September. The suit, which could break up Trump's business empire,
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