On Wednesday, testimony in Donald Trump’s civil fraud trial in New York concluded with his accusation of falsifying his net worth to deceive lenders.
The New York attorney general is seeking to fine Donald Trump at least $250 million and restrict his ability to do business in New York, home of many of his renowned properties.
Trump, the frontrunner for the 2024 Republican presidential nomination, has denied wrongdoing and called this case a “scam.”
Justice Arthur Engoron will deliver his written verdict after closing arguments on Jan. 11.
New York Attorney General Letitia James, who brought the suit, issued a statement Wednesday highlighting how the trial had “illuminated the full scope” of Trump’s fraud as well as his inability to dispute it.
Chris Kise, President Donald Trump’s attorney, noted the 11-week trial had demonstrated there had been no fraud, harm or damage of any sort to Trump’s bankers; Kise noted they viewed Trump as one of their preferred clients.
Engoron has already determined that Trump’s financial statements were false and fraudulent, narrowing down the trial to damages only. Trump plans on appealing.
The trial, which started Oct. 2, was heavily focused on financial documents and expert testimony, as well as witness appearances by Donald Trump, his adult children, and former lawyer and fixer Michael Cohen – with much attention being drawn towards every witness call taken during that process.
Trump admitted in his defiant testimony in November that asset valuations on his financial statements were inaccurate; however, any discrepancies would be irrelevant to banks that used these documents to price his loans.
Trump fired back at James, an elected Democrat, and Engoron, accusing them of political bias against him.
Trump frequently voiced similar grievances during court appearances that interfered with his campaign, alleging they hampered its progress.
Trump could freely criticise James and Engoron but was prevented from discussing court staff publicly due to a temporary gag order imposed after posting about them online.
Engoron fined Trump $15,000 for violating an order twice, which he is contesting with an appeal.
Trump’s real estate empire, his source of considerable wealth and springboard into politics, may face severe repercussions as a result of this case.
Engoron found Donald Trump guilty of fraud and cancelled business certificates for several crown jewels of his portfolio, such as Trump Tower in Manhattan and 40 Wall Street.
Trump has not decided whether he will appeal the order against him; any verdict against him would likely be appealed by him.
Trump faces numerous legal entanglements as he prepares to run against former Vice President Joe Biden in November 2024, including four criminal cases he has pled not guilty in.
No one has been able to reduce Donald Trump’s commanding lead over rivals for the nomination, as evidenced by a Reuters/Ipsos poll conducted December 11th which found 61% of Republicans supported Trump during state by state nominating contests to determine who will challenge Joe Biden for president.