Donald Trump allegedly inflated the value of his properties by billions of dollars in statements to banks. (AP pic)
NEW YORK: Donald Trump and his former lawyer and fixer Michael Cohen traded barbs today as they arrived in court in New York, where Cohen is set to testify as a key witness against the former president in a civil fraud case that threatens to break up Trump’s business empire.
Cohen has become one of Trump’s fiercest critics since cutting ties with him five years ago.
“This is about accountability, plain and simple,” Cohen told reporters as he entered the courthouse, adding that it was up to the judge to make any determinations in the case.
Trump, the frontrunner for the 2024 Republican presidential nomination, called Cohen a “liar” upon his arrival minutes later.
Cohen pleaded guilty in 2018 to felony charges including tax evasion and lying to Congress during a probe of Trump’s ties with Russia.
“He’s a proven liar, as you know, a felon,” Trump told reporters before entering the courtroom, referring to Cohen.
“We did nothing wrong and that’s the truth.”
Cohen began a three-year prison sentence in 2019 but was released to home confinement the following year.
He told Reuters yesterday that Trump calling him a liar amounted to “the pot calling the kettle black”, and said he lied to Congress at Trump’s direction and for his benefit.
The trial stems from a lawsuit by Democratic New York attorney-general Letitia James alleging Trump inflated the value of his properties by billions of dollars in statements to banks to secure better loan terms.
Proceedings today kicked off with testimony from Bill Kelly, the general counsel of accounting firm Mazars.
The firm stopped working with the Trump Organization in February 2022 amid concerns that its financial statements were no longer reliable.
Cohen, who served as Trump’s personal lawyer and fixer for years before cutting ties amid his own legal troubles, was set to take the stand after Kelly.
His testimony during a 2019 Congressional probe of Trump’s finances was the impetus for James’ lawsuit.
Trump has denied wrongdoing and defended the valuations of his properties, saying the case is a “fraud” and a political witch hunt.
He has occasionally appeared in court over the past month, complaining in inflammatory remarks to reporters that it is a distraction from his campaign.
He arrived yesterday fresh off a campaign stop in New Hampshire and just days after being fined US$5,000 by justice Arthur Engoron, the judge overseeing the case, for violating a gag order.
In September before the trial began, Engoron found that Trump fraudulently inflated his net worth and ordered the dissolution of companies that control crown jewels of his real estate portfolio, including Trump Tower in Manhattan.
That ruling is on hold while Trump appeals.
The trial largely concerns damages.
James is seeking at least US$250 million in fines, a permanent ban against Trump and his sons Donald Jr and Eric from running businesses in New York and a five-year commercial real estate ban against Trump and the Trump Organization.
Early in the trial, Engoron barred the parties from speaking publicly about court staff after Trump shared a social media post attacking Engoron’s clerk and identifying her by name.
Trump deleted the post, but last week Engoron revealed that a screenshot had remained live on his campaign site for weeks.
Engoron, who said the lapse appeared to be “inadvertent”, fined Trump US$5,000 and warned that future violations would bring “far more severe” sanctions including imprisonment.
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