Michael Cohen's opening statement., page-26

Mr. Trump is a cheat.


As previously stated, I’m giving the Committee today three years ofPresident Trump’s financial statements, from 2011-2013, which he gave toDeutsche Bank to inquire about a loan to buy the Buffalo Bills and toForbes. These are Exhibits 1a, 1b, and 1c to my testimony.

It was my experience that Mr. Trump inflated his total assets when it servedhis purposes, such as trying to be listed among the wealthiest people inForbes, and deflated his assets to reduce his real estate taxes.

I am sharing with you two newspaper articles, side by side, that areexamples of Mr. Trump inflating and deflating his assets, as I said, to suithis financial interests. These are Exhibit 2 to my testimony.

As I noted, I’m giving the Committee today an article he wrote on, and sentme, that reported on an auction of a portrait of Mr. Trump. This is Exhibit3A to my testimony.

Mr. Trump directed me to find a straw bidder to purchase a portrait of himthat was being auctioned at an Art Hamptons Event. The objective was toensure that his portrait, which was going to be auctioned last, would go forthe highest price of any portrait that afternoon. The portrait was purchasedby the fake bidder for $60,000. Mr. Trump directed the Trump Foundation,which is supposed to be a charitable organization, to repay the fake bidder,despite keeping the art for himself. Please see Exhibit 3B to my testimony.

And it should come as no surprise that one of my more commonresponsibilities was that Mr. Trump directed me to call business owners,many of whom were small businesses, that were owed money for theirservices and told them no payment or a reduced payment would becoming. When I advised Mr. Trump of my success, he actually reveled in it.

And yet, I continued to work for him.