Farro says there was no indication Cohen's bank account was for expenses related to political candidate

Ex-attorney for Daniels and McDougal testifies in Trump trial

From CNN's Kara Scannell, Lauren Del Valle, Jeremy Herb and Kaitlan Collins in the courthouse

Updated 8:07 p.m. ET, April 30, 2024
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9:55 a.m. ET, April 30, 2024

Farro says there was no indication Cohen's bank account was for expenses related to political candidate

Banker Gary Farro says there was no indication given that the bank account Michael Cohen set up would be related to a political candidate.

"There would be additional scrutiny," if the bank had known that, Farro says.

It "quite possibly" would've delayed the opening of an account for Essential Consultants had Cohen flagged it'd be used to pay expenses for a political candidate, Farro says.

"We would certainly ask additional questions," Farro says, adding that it's possible the account would not have been opened.

9:52 a.m. ET, April 30, 2024

Trump whispers to his attorney as Farro testifies

Donald Trump is whispering with defense attorney Todd Blanche as prosecutors question Gary Farro, Michael Cohen's former banker.

9:53 a.m. ET, April 30, 2024

Account for Cohen was opened in 5 to 6 hours, which was very quick, according to Farro

Gary Farro's colleague, who opened Cohen's account, sent him an email on October 26, 2016: “Account is good to go – gave him wire instructions & ordered checks."

Farro said it took about five or six hours to open the account for Essential Consultants — what he says is very quick for the process.

"Everything was urgent with Michael Cohen," Farro said.

9:50 a.m. ET, April 30, 2024

Prosecutor shows documents that LLC was started in Delaware

Prosecutor Rebecca Mangold is now showing documents that Michael Cohen provided to the bank showing the LLC was created in Delaware.

9:48 a.m. ET, April 30, 2024

Documents show Cohen's bank account was for "consulting" business

Prosecutor Rebecca Mangold just showed emails regarding a Michael Cohen's bank account.

The "type of business" listed on the account document was "consulting." Gary Farro, Cohen's former banker, says that is consistent with what Cohen told him about the purpose of the business was in a phone call.

The jury is seeing Cohen's signature on the account documents.

9:46 a.m. ET, April 30, 2024

Key things to know about finance executive Gary Farro, the witness testifying now in the trial

Gary Farro testifying in court Friday.
Gary Farro testifying in court Friday. Christine Cornell

Witness Gary Farro, a former senior managing director at First Republic Bank, is back on the stand to testify about his time working with Donald Trump's former personal attorney, Michael Cohen.

Farro worked at First Republic Bank when Cohen used his home equity line from the bank to pay the $130,000 payment to Stormy Daniels, which is at the center of the hush money case.

Cohen's then lawyer Michael Avenatti provided an email to CNN in 2018 that showed a First Republic Bank employee confirming the deposit to Cohen, who used his personal and trumporg.com email accounts.The bank employee who confirmed the deposit was an assistant to Farro, according to NBC News.

Farro’s testimony Tuesday is expected to get into the documents that underly the paper trial tied to the 34 counts of falsifying business records Trump faces. Trump has pleaded not guilty to all charges and denies the alleged affairs.

What Farro said Friday: When Farro took the stand as prosecutors’ third witness, jurors saw the paper trail for a shell company and corresponding bank account Cohen created in Delaware that was meant to be used to pay AMI for the rights to Karen McDougal’s story – a transaction that never transpired. That account was ultimately never funded, according to the banker’s testimony.

Farro testified to records that show Cohen changed course about two weeks later in October 2016 to instead open an account for another company – Essential Consultants – an entity ultimately used to pay Daniels in the hush money scheme to suppress her story about an alleged affair with Trump.

CNN's Kaanita Iyer contributed reporting to this post.

9:46 a.m. ET, April 30, 2024

Prosecution showing emails from bank account for Cohen

Prosecutor Rebecca Mangold is showing emails from First Republic Bank about the opening of the Essential Consultants bank account for Michael Cohen.

9:41 a.m. ET, April 30, 2024

Prosecutor resumes questioning of Gary Farro

Prosecutor Rebecca Mangold has resumed questioning Michael Cohen's former banker Gary Farro.

10:18 a.m. ET, April 30, 2024

Merchan fines Trump for violating gag order 9 times

Judge Juan Merchan has fined Trump for violating the gag order nine times.

Trump must remove the seven "offending posts" from Truth Social and the two "offending posts" from his campaign website by 2:15 p.m. today.

According to the order, "THEREFORE, Defendant is hereby warned that the Court will not tolerate continued willful violations of its lawful orders and that if necessary and appropriate under the circumstances, it will impose an incarceratory punishment."