In a stunning admission during testimony on Monday, former Trump attorney Michael Cohen confessed to stealing tens of thousands of dollars from the Trump Organization. Cohen revealed that he had inflated the amount he claimed to have paid a tech company, Red Finch, for services rendered to the organization.
The bombshell confession came after Trump attorney Todd Blanche directly questioned Cohen. “You stole from the Trump Org, right?” Blanche asked pointedly. Without hesitation, Cohen responded, “Yes, sir.”
This admission stems from Cohen’s previous testimony last week, where he detailed how he and former Trump Organization CFO Allen Weisselberg had calculated a $420,000 repayment to Cohen. This repayment was meant to cover the $130,000 hush money payment Cohen made to former adult film star Stormy Daniels ahead of the 2016 presidential election. Cohen’s payment to Daniels was an attempt to silence her claims of an alleged affair with Trump in 2006.
Previously, Cohen had testified that the $420,000 repayment figure was “grossed up” to prevent him from incurring a significant tax burden. He also claimed that it included $50,000 as reimbursement for paying the tech firm Red Finch.
However, in his latest testimony, Cohen admitted that he had lied about the amount paid to Red Finch. He stated that he had withdrawn around $20,000 in cash from a TD Bank over a couple of days, which he then stored in a brown paper bag. This cash was given to Red Finch’s CEO, falling well short of the claimed $50,000.
During a 2017 meeting to discuss the repayment plan, Cohen confessed that he had falsely told Weisselberg he had paid Red Finch the full $50,000 amount. This deception allowed Cohen to pocket a difference of $30,000.
When Blanche pressed Cohen, asking, “You lied to Weisselberg about how much you needed for Red Finch?” Cohen confirmed that he had indeed lied. The Trump Organization, under the mistaken belief that Cohen had paid the full $50,000, still reimbursed him for that amount.
Blanche then pointedly inquired, “Have you paid back the Trump Organization for the money you stole from them?” Cohen’s response was a simple, “No, sir.”
Cohen’s explosive testimony marks the fourth day he has taken the stand, with Trump’s legal team initially anticipating wrapping up his cross-examination on Monday. As the case continues, closing arguments are expected next Tuesday after the Memorial Day holiday.