CNN legal analyst Elie Honig claims that Michael Cohen's admission to stealing from the Trump Organization is more severe than the alleged falsification of business records by former President Trump.
Michael Cohen's admission that he embezzled money from the Trump Organization is considered more egregious than the accusations against former President Trump of manipulating business records, according to CNN legal analyst Elie Honig.
"The fact that he was ever charged with larceny is significant because stealing $60,000 through fraud, which constitutes larceny in New York State, is more serious than falsifying business records," Honig remarked.
During cross-examination on Monday, Cohen revealed that he had pilfered thousands of dollars from the Trump Organization by exaggerating the payments made to a technology firm for its services.
Honig criticized the prosecution for downplaying the severity of Cohen's confession during their questioning.
CNN political commentator Tim Parlatore concurred, stating that the prosecution's initial questioning downplayed Cohen's actions.
"The prosecution's minimization presents a valuable opportunity for defense counsel to argue that they were aware of the situation but deliberately understated its significance to mislead the jury," he said.
Cohen testified last week in the New York case against Trump that he and Allen Weisselberg, the former CFO of the Trump Organization, calculated a repayment of $420,000 to Cohen for his $130,000 payment to Stormy Daniels, a former adult film actress. Cohen made the payment to Daniels during the 2016 election campaign to suppress her allegations of an affair with Trump in 2006.
Cohen previously testified that the reimbursement was inflated to shield him from tax penalties and cover the alleged $50,000 he paid to technology company Red Finch.
Trump's former attorney testified that he made several cash withdrawals over several days to pay Red Finch for its services and that he handed its CEO $20,000. However, Cohen admitted that he never paid the company the full amount.
Cohen stated on Monday that he misappropriated $30,000, which was "grossed up" to $60,000, as a form of "self-help" due to his frustration over the substantial reduction in his year-end bonus.
"Having my bonus cut by two-thirds was distressing, to say the least," he said.
