Explosive Revelations Uncovered: Inside Michael Cohen's Epic Courtroom Showdown with Trump

Michael Cohen described his reunion with former boss Donald Trump as a remarkable event during his testimony against the ex-president in a civil fraud trial in New York. Sitting just a few feet away from Trump, Cohen revealed his method of manipulating Trump's financial statements, which involved reverse engineering them to achieve a predetermined net worth. Additionally, Cohen detailed how he collaborated with the Trump Organization's chief financial officer in inflating the value of Trump's properties.

Once Trumps lawyer began questioning Cohen, things quickly got heated, as he sneered at the questions and loudly objected to one line of questioning.

Michael Cohen, the former lawyer for Donald Trump, is seen arriving at the civil fraud trial against the Trump Organization in the New York State Supreme Court, located in the Manhattan borough of New York City on October 24, 2023. The photo was taken by Jeenah Moon and is credited to Reuters.

Michael Cohen is set to testify in the Trump civil fraud trial. On Tuesday, there were no direct interactions between Cohen and Trump. However, both are anticipated to return to court on Wednesday, where Trump's lawyers will continue their cross-examination of Cohen.

Heres what to know about the dramatic day in court:

Trump and Cohen meet for the first time in 5 years

When Cohen entered the Manhattan courtroom on Tuesday morning, it marked the first encounter between him and Trump in five years. Despite previously expressing unwavering loyalty to Trump and even claiming he would go to great lengths to protect him, Cohen eventually changed his stance after admitting guilt in federal offenses in 2018. As he faced imprisonment, Cohen transformed into one of Trump's primary adversaries, appearing before Congress to testify against him and publishing books that criticized the former president.

Trump showed no immediate response to Cohen's entrance, but he kept a close watch as Cohen began testifying, his gaze fixed straight ahead and his arms firmly crossed in front of his former attorney. During breaks in the courtroom proceedings, they avoided any eye contact. Yet, once outside the courtroom, Trump launched an assault on Cohen, voicing his criticism of his "terrible track record."

"It won't turn out well for him. We have no concerns regarding his testimony," Trump stated during a lunch break.

Upon exiting the courtroom, Cohen simply remarked, "What a remarkable reunion."

The former fixer described how he fixed things for Trump

Cohens testimony directly implicated Trump, saying that he was directed by his former boss to inflate Trumps net worth on financial statements to hit an arbitrary number.

Cohen revealed that he, along with former Trump Organization CFO Allen Weisselberg, would alter the financial statements of Trump, which are crucial evidence in the civil fraud trial. The adjustments were made based on Trump's desired depiction of his net worth.

Republican presidential candidate and former President Donald Trump addresses attendees at a rally in Waterloo, Iowa on October 7, 2023. This event marks the first of two rallies in Iowa for the former president today. (Photo credit: Scott Olson/Getty Images)

Trump draws parallels between himself and Nelson Mandela while vehemently protesting the criminal charges brought against him.

"Mr. Trump assigned me the duty of augmenting the overall assets, using a figure he had chosen without any specific criteria. Together with Allen Weisselberg, my main focus was to strategically enhance the value of diverse asset categories, ultimately reaching the numerical goal assigned by Mr. Trump."

When asked about the numbers they would aim for, Cohen responded, "We would target whatever number Mr. Trump instructed us to reach." Cohen clarified that Trump would examine the financial statements and declare, "After reviewing the total assets, I believe my actual worth is not 4.5 billion but closer to six billion." Subsequently, he would task Allen and me to revisit Allen's office and return once we attained the desired objective.

Cohen admitted to inflating the assets listed in Trump's 2012 financial statement, which included properties such as Trump Tower, Trump Park Ave., Trump World Tower at United Nations Plaza, the commercial side of 100 Central Park South, the Mansion at Seven Springs, the Miss Universe Pageants, and possibly others. He explained that they would compare these properties to others in New York City that were achieving high prices per square foot and use them as a basis for reevaluating the valuations, even though these properties had different features such as ceiling heights, views, and rental restrictions.

"You could call them comparable, but comparable would imply that they are similar," Cohen said.

Fireworks during cross examination

Trump attorney Alina Habba's interrogation of Cohen in the last 25 minutes of Tuesday's court session immediately elicited a strong reaction from him, reflecting the mounting tension of the afternoon. Cohen's composure completely shifted as he vehemently objected and raised his voice at Habba when she questioned, "Have you ever informed your wife about your involvement in tax evasion?"

Lawyers from both sides engaged in a heated dispute following the outburst, with Chris Kise, representing Trump, objecting to Cohen's response while the New York attorney general's office objected to the question, citing spousal privilege. Habba proceeded to question Cohen about the criminal charges he admitted guilt to, which ultimately resulted in the revocation of his law license.

"Asked and answered," Cohen sneered in response to a question about losing his law license.

"You have lied under oath numerous times, Mr. Cohen?" Habba asked.

"Thats correct," Cohen said.

The Trump team is trying to undercut Cohens credibility as a witness. Theres plenty of material to work with, given Cohen pleaded guilty in 2018 for lying to Congress.

Kise remarked that Cohens outburst made the witness completely out of control, causing the gallery to laugh. The intense questioning will persist on Wednesday since Habba had not even begun discussing the actual content of Cohens testimony in the civil fraud trial.

"Mr. Cohen, let me clarify how things will proceed. You are not on Mea Culpa, you are not on your podcast, and you are not on CNN," she asserted, emphasizing that Cohen's role was simply to provide concise yes or no responses to questions.

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Michael Cohen reacts to testimony about Eric Trump

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Judge says effort to buy Bills supports allegations of a pattern of fraud

Judge Arthur Engoron ruled that trial testimony and financial documents pertaining to Trump's attempted acquisition of the Buffalo Bills in 2014, valued at $1 billion, could be admitted as evidence. This decision was made as it aligns with the attorney general's assertion that Trump engaged in a consistent pattern of fraud when it came to reporting his assets. Notably, Trump stated his net worth to be $8 billion in a letter submitted along with his bid in July 2014.

Engoron overruled objections from Trump's attorneys stating that the financial documents containing claims of an $8 billion net worth at the time could potentially indicate a fraudulent pattern. Engoron deemed the document relevant to the case. Prior to this ruling, there was disagreement between state attorneys and Trump's lawyers over Michael Cohen's testimony regarding the letter. Kise objected to questioning relating to internal preparations for Trump's potential bid on the Bills, arguing that there was no actual transaction and it did not form the basis of any claims in the complaint.

During an intermission in the trial, Trump declared that his unsuccessful attempt to purchase the Bills was completely flawless.

"As a bidder for the team, I had secured all the necessary finances and requirements," Trump asserted. "There was nothing at all amiss, and ultimately, the deal did not materialize. This was several years ago."

Trumps dual-track day

Trump spent the entire day in the courtroom, both for Cohens testimony and the appearance of Mazars general counsel Bill Kelly.

However, he also devoted his day to obstructing the brief tenure of Minnesota GOP Rep. Tom Emmer as a candidate for the House speakership. Emmer was chosen by his party as the nominee for speaker from a pool of eight candidates on Tuesday. However, just moments before the court session in New York ended for the day, Emmer withdrew his candidacy due to resistance from both Trump's allies in Congress and Trump himself.

During a recess in the trial, Trump took to his social media platform, Truth Social, to criticize Emmer. "I have a number of remarkable friends vying for the Speaker of the House position, and some of them are truly exceptional Warriors. However, RINO Tom Emmer, whom I am not well-acquainted with, does not fall into this category," Trump expressed.

Rep. Tom Emmer arrives for a House Republican conference meeting to choose a nominee in the race for House Speaker at the U.S. Capitol in Washington, DC, on October 24.

Jonathan Ernst/Reuters

Rep. Tom Emmer withdraws from the race for House speaker. Throughout most of Cohen's testimony, Trump was engaged in listening but occasionally glanced down at his phone, typing on it while Cohen spoke.

As Trump exited the courtroom during the final break of the day, he observed the ongoing events in Washington, DC. "Seems like he's done for. Looks like he's done for," remarked the former president regarding Emmer. This entire incident served as a pertinent reminder that Trump's trials coincide with his position as the frontrunner GOP candidate for presidency, enabling him to influence his political base, even from within the confines of a courtroom.

CNNs Brynn Gingras, Sabrina Souza and Skylar Harris contributed to this report.