Trump Hush Money Trial Resumes with Testimony from Banker Involved in Stormy Daniels Payment

The criminal trial of former President Donald Trump resumed on Tuesday in Manhattan, with testimony from Gary Farro, a banker involved in the $130,000 hush money payment to adult film star Stormy Daniels in 2016. Prosecutors allege that the transaction was masked through a shell company.

Farro, a senior managing director at First Republic Bank, detailed the process of helping Trump's former attorney Michael Cohen create accounts for two limited liability companies, Resolution Consultants LLC and Essential Consultants LLC. The latter was used to send the payment to Daniels, who alleges she had a sexual encounter with Trump in 2006.

Prosecutors showed emails where Cohen described the opening of the Resolution Consultants account as a matter of importance. Farro testified that Cohen seemed anxious to get the bank accounts set up, and that the bank's policy prohibited doing business with entities tied to "adult entertainment."

Why this matters: The trial is the first-ever criminal prosecution of a former U.S. president. The charges against Trump center on allegations that he falsified business records to hide hush money payments made to Daniels ahead of the 2016 election, which prosecutors argue amounted to illegal interference in the campaign.

Trump, who has pleaded not guilty to 34 felony counts of falsifying business records, has been required to be in court when the trial is in session. He has denied any wrongdoing, calling the charges politically motivated as he campaigns for the 2024 Republican presidential nomination.

The trial is part of a broader case in which Manhattan prosecutors are portraying an illegal scheme to influence the 2016 election by burying negative stories about Trump. Last week, former National Enquirer publisher David Pecker testified about the tabloid's "catch-and-kill" practice of purchasing the rights to stories to prevent them from being published.

Prosecutors are building their case by presenting detailed testimony on email exchanges, business transactions, and bank accounts to argue that Trump is guilty of the charges against him. The trial is expected to continue for another month or more, with Trump's former attorney Michael Cohen expected to be a key witness for the prosecution.

Key Takeaways

• Trump's criminal trial resumed, with testimony from a banker involved in $130K hush payment.
• Prosecutors allege the payment to Stormy Daniels was masked through a shell company.
• This is the first-ever criminal prosecution of a former U.S. president.
• Trump denies wrongdoing, calling charges politically motivated as he campaigns for 2024.
• Prosecutors are building their case by presenting detailed testimony on emails, transactions, and accounts.