Lies About Wealth Could Mean Big Trouble for Trump

When Michael Cohen told a congressional hearing on Wednesday that President Donald Trump regularly lies about the extent of his wealth, he may have hinted — intentionally or otherwise — at potential crimes committed by the president. Cohen hinted at other unknown investigations into Trump being conducted by the U.S. attorney for the Southern District of New York. Could these be tied to his lying about his wealth?

“It’s possible,” Juliet Sorensen, director of the Bluhm Legal Clinic at Northwestern Law and the Harry R. Horrow Professor in International Law, told Salon. “With any discussion of the criminal investigations, it is important to bear in mind how little is in the public record at this point.” Sorensen added, “With respect to what has been charged: Both the action brought by the attorney general’s office against the Trump Organization and, of course, the criminal case against Michael Cohen, we have charging documents. We have a complaint case. In Michael Cohen’s case, we have a charging document in a criminal case. But we don’t have access to a full record, we don’t have access to pre-trial discovery, to witness testimony.

“It is quite possible that Trump’s inflating or deflating his income as it suits him … is related to an investigation into tax fraud either as it relates to his personal taxes or to tax issues around the Trump Organization and their nonprofit entity.”

Cohen testified that Trump’s tax returns could shed more light on potential crimes, as Bloomberg reported:

Former Trump fixer Michael Cohen attested to Trump’s shifting wealth valuations to lawmakers on Wednesday, bearing what he said were annual net-worth summaries prepared for Trump earlier this decade. Trump handed the summary with high valuations to lenders and journalists, Cohen testified. When it came to tax authorities, he lowballed.

Kenneth McCallion of McCallion & Associates LLP, one of the first DOJ prosecutors to work on Trump corruption cases, had a…

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