Trump ‘inflated his total assets when it served his purposes,’ Cohen alleges in his hearing, citing financial documents

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Trump ‘inflated his total assets when it served his purposes,’ Cohen alleges in his hearing, citing financial documents
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The Washington Post has independently obtained documents for previous years that include a lengthy disclaimer.

By Jonathan O'Connell and Jonathan O'Connell Reporter covering economic development with a focus on commercial real estate and the Trump Organization Email Bio Follow David A. Fahrenthold David A. Fahrenthold Reporter covering the Trump family and its business interests.

“It was my experience that Mr. Trump inflated his total assets when it served his purposes, such as trying to be listed amongst the wealthiest people in Forbes, and deflated his assets to reduce his real estate taxes,” Cohen said. And it revealed a new potential target for Democrats, who have pledged to investigate myriad aspects of Trump’s business holdings.

“Michael Cohen’s testimony opens another line of inquiry — into bank fraud,” said Stanford University law professor Joseph A. Grundfest, a former commissioner of the Securities and Exchange Commission. “But to determine whether fraud occurred requires a careful look at the text of the statute and at the documents submitted to the bank.

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