Hush money trial: Cohen admits to stealing $30,000 from Trump; closing arguments expected next week

The former United States President Donald Trump’s ex-lawyer and fixer-turned-foe, Michael Cohen returned to the witness stand, on Monday (May 20) and admitted to stealing tens of thousands as the historic trial on charges of covering up hush money payments to adult film actor Stormy Daniels is inching towards its final stages, with closing arguments expected early next week.

Cohen admits to stealing from Trump Organization

Upon being questioned on Monday by the former president’s lawyer Todd Blanche, Cohen acknowledged pocketing tens of thousands of dollars from the Trump Organization.

“So you stole from the Trump Organization, right?” asked Blanche, to which Cohen, a key witness for New York prosecutors, responded by saying “Yes sir.”

Trump’s former lawyer admitted that he pocketed $30,000 after paying roughly $20,000 of the $50,000 that Trump’s company owed to the tech company in cash, and said that he kept the rest.

He later explained that he had stolen the cash because hisannual holiday bonus had been slashed from$150,000, what he usually received to$50,000.

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Cohen also testified that the former president had owed the money to atechnology firm namedRed Finch for itswork toartificially boost his standing in a CNBC online poll about famous businessmen, reported the Associated Press.

Cohen is the last and arguably the most important witness for the New York prosecutors as the trial is inching towards its final stages.

The former president is on trial based on the charges stemming from hush money allegedly paid to Daniels, 45, ahead of the 2016 presidential election.

The prosecutors have alleged that Trump falsified business records to cover up the payment that Cohen made to the adult film actress in the run-up to the election.

However, as a convicted felon and admitting that he has repeatedly lied under oath to benefit Trump, Cohen is seen as a problematic witness.

Therefore, prosecutors have supported his testimony with documentary evidence as Trump’s lawyers have sought to undermine Cohen’s credibility.

Closing arguments expected next week

Due to the upcoming holiday weekend and legal squabbles over jury instructions, Judge Juan Merchan told the court “it’s become apparent that we are not going to be able to sum up tomorrow” as he had hoped ahead of the session on Monday, according to AFP.

Therefore, the judge said that he expected the prosecution and the defence to wrap up their presentations this week and make their closing arguments next week.

Trump’s lawyers will have a chance to present evidence and witnesses of their own after Cohen’s testimony concludes. However, it is still unclear if Trump himself would testify.

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The former president told reporters in Florida that he would take the stand and testify if necessary. “All I can do is tell the truth,” said Trump.

Notably, before the trial began, Trump said he planned to testify, but Blanche told the judge last week that it was no longer certain.

If Trump chooses to testify, he may convince jurors that he was not responsible for the paperwork at the heart of the case and respond to Daniels’ account of their alleged sexual encounter.

On the other hand, if the former president takes the stand he will also face cross-examination by prosecutors who could expose inconsistencies in his story, if any, which could lead to further charges.

(With inputs from agencies)