Donald Trump Fraud Trial: Trump Organization Exec Testifies “Presidential Premium” Floated To Inflate Assets' Values

During Friday's hearing at the Donald Trump fraud trial, Trump Organization Assistant Vice President Patrick Birney admitted they tried using the idea of padding the ex-POTUS's assets when he became president as the idea of adding a "presidential premium" when calculating the value of his properties was floated.

The idea was floated while Trump was still president and it played on the idea that just by being president, it would have padded his net worth by nearly $145 million. Birney did admit that they ended up scrapping the idea. However, prosecutors have pointed out that by just floating the very idea of using the presidency to pad one's assets, it showed that Trump and those working for him have the intent of finding ways to make his net worth seem larger than it actually is.

As the Associated Press noted, Birney is the third Trump Organization executive to take the witness stand, following former Chief Financial Officer Allen Weisselberg and Senior Vice President and former Controller Jeffrey McConney. Weisselberg was previously found guilty of fraud and tax evasion and was imprisoned over it.

Birney testified that adding 25% onto the Trump Tower apartment's value as a "premium for presidential personal residence" was considered by the Trump Organization and they also considered doing the same for Mar-a-Lago and his golf resort in Bedminster, New Jersey. The "presidential premium" would have padded Bedminster's worth by $18.9 million on Trump's annual financial statements.

When asked who directed him to use the "presidential premium" to pad Trump assets, Birney answered, "I don't really remember, but probably Allen Weisselberg."

Michael Cohen Testimony During Donald Trump Fraud Trial Postponed

Michael Cohen, former personal attorney and "fixer" for ex-President Donald Trump was supposed to testify against his former client's New York fraud trial next week but it had to be postponed. According to CBS News, the main reason was due to a medical issue.

"Unfortunately I need to attend to a pre-existing medical condition that impedes my ability to testify this upcoming week. Rest assured, I will testify at the earliest opportunity," said Cohen in a statement. As Trump's fixer and personal lawyer, Cohen is considered the star witness of this trial as he revealed in a 2019 congressional testimony that Trump inflated his wealth.

This kicked off the investigations against him in New York, with a civil one from New York AG Letitia James and a criminal investigation led by Manhattan District Attorney Alvin Bragg. The Trump Organization has since been found guilty of fraud, though Trump himself has not been held liable yet.

Donald Trump Expected to Return to Court to Attend New York Fraud Trial

As for the former president himself, Donald Trump is expected to return to New York to attend his fraud trial. Much like previous hearings, Trump is not required to attend but he usually complains about being "forced" to attend them.

Trump voluntarily attended the first three days of his trial before going back to Florida during the middle of the third day. According to ABC News, he will be expected to attend through Thursday.

Meanwhile, Michael Cohen has stated he is looking forward to seeing his former client again. "It's been 5 years since we have seen one another," he said, "I look forward to the reunion. I hope Donald does as well."

This article is owned by Latin Post.

Written by: Rick Martin

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