Michael Cohen testifies in Donald Trump’s hush money trial

4:36 PM ET, May 13, 2024

Key points from Michael Cohen’s testimony about how he made up for the hush money deal

From CNN’s Eric Levinson

Michael Cohen is being questioned by Attorney General Susan Hofinger on Monday. Manhattan District Attorney Alvin Bragg is in the foreground.

Christine Cornell

Michael Cohen ended his testimony today by explaining how he, the former Trump Organization… CFO Allen Weisselberg and Donald Trump agreed to reimburse him for a $130,000 payment to Stormy Daniels.

After Trump won the election, Cohen offered Trump a plan in which he would serve as Trump’s personal lawyer for free but would be paid by companies hoping to gain insights into Trump.

In early January, Cohen went to Weisselberg seeking $130,000 in compensation, and Weisselberg agreed, Cohen testified. He showed Weisselberg the wire transfer document, and Weisselberg took handwritten notes for the account What Trump owes Cohen based on their conversations.

Weisselberg suggested that Cohen take the money as income rather than as non-taxable compensation, Cohen testified. “I didn’t really think about it. I just wanted my money back,” he said.

According to Cohen, they agreed that Trump would pay him a total of $420,000: $130,000 to reimburse him for the payment to Daniels, $50,000 to reimburse him for unrelated technology services, $180,000 to calculate estimated taxes and a $60,000 bonus. Cohen testified that the payments would be made over 12 months “similar to the legal service provided since I assumed the title of personal attorney to the president.”

Cohen said they presented the plan to Trump, and he approved it. He testified that the payments were designed to look like future legal services, but were actually compensation for Daniels’ deal.

“What (Weiselberg) told me was: ‘Send us an invoice every month. Just record the legal services provided under the agreement, and we’ll check you out,'” Cohen testified.

Cohen never put together a retainer agreement for any future work he would do for Trump, “because I knew there would be no compensation,” he testified.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Back to top button

Adblock Detected