Donald Trump randomly pulled a piece of paper from his suit jacket while testifying in a Manhattan court Monday – claiming it would completely clear his name in a $250 million civil fraud case against him and asking to show it to the judge.
The former president, 77, apparently asked to show judges and prosecutors a disclaimer clause from financial statements that New York Attorney General Letitia James had accused him of lying in his claims.
As he testified at a hearing in the suit, Trump held up the document and asked if the judge “wanted to have it.”
Then, the real estate tycoon said: “I would like to read this, Your Honor, if I may?”
“Not at this point, not at this point,” replied Manhattan Supreme Court Justice Arthur Engoron — who is deciding a non-jury case that threatens Trump’s New York real estate empire.
“I’m surprised,” Trump replied.
One of Trump’s main defenses during his testimony revolved around the annual statements of financial condition that James claims he lied about from 2011 to 2021, inflating his assets by billions a year for better loan terms and insurance.
Trump claimed that the disclaimer clause meant that he was not responsible for any inaccuracies the document might contain – although Engoron, in a major ruling before the trial began last month, rejected the defense’s argument.
Donald Trump pulled a piece of paper from his suit jacket as he testified, saying it would clear him in a fraud suit.Steven Hirsch
“I think the statement of financial condition is very good, actually quite conservative, and it is fully protected, and so am I, by the disclaimer clause,” Trump insisted from the witness stand Monday afternoon.
The annual statement contained a section that said Trump promised to provide a “fair representation” of financial filings in accordance with generally accepted accounting principles.
Engoron wrote in his Sept. 26 ruling that disclaimers “do not shield defendants from liability” — and added that they actually “place the responsibility for accuracy squarely on the defendant’s shoulders.”
On Monday, referring to the disclaimer clause, the judge told Trump to “read about my opinion — for the first time, I think.”
The debate over the clause prompted Trump to lash out at judges and the Attorney General.
Trump claimed that a disclaimer clause on his financial statement – at the center of a fraud case – cleared him of inaccuracies in the documents.
“He calls me a liar and he knows nothing about me!” shouted Trump, pointing at the judge.
“The fraud is in the court and not on me… the fraud is on him!”
He then called James, who sat quietly in the front row, a “political hack.”
Trump used a variety of other arguments to fight the Attorney General’s allegations against him, including trying to downplay the significance of the annual statement.
He claims that banks don’t actually rely on financial statements when considering whether to lend him money — instead they’re more concerned with the terms of the deal or the location of the properties he’s financing.
“It is not a document that the bank pays much attention to,” he testified.
Trump testified for about three and a half hours on Monday.
“I have been dealing with banks for 50 years. I might know the bank as well as anyone,” he added. “They look at the deal, they look at the location … they don’t want to get involved in the financial statements.”
And that statement actually understated his net worth, Trump testified, claiming that his towering Financial District property at 40 Wall Street is worth far more than the $550 million assessed on his 2014 return.
“The building, you just look at it, and you say it’s worth more than $550 million,” Trump said, suggesting prosecutors “pull a picture” of the building.
He also claimed that he paid back all the bank loans he took out, so no one was actually “hurt” and there were no “victims.”
Trump slams judges and AG saying they committed fraud and not him.REUTERS
“They are paid in full. There are no victims,” Trump said, before adding “Everybody’s trying to find out, why you [the prosecutor] do this? Nobody understands it but I understand it … it’s called politics.”
However, the law under which the real estate tycoon is sued does not require actual harm to be proven if he is found liable for fraud.
Trump has also claimed in his defense that the entire case against him is politically motivated and his lawyers have threatened to file a motion for a mistrial over alleged bias by the judge.
The 2024 GOP presidential front-runner testified in total for about three and a half hours during Monday’s dramatic questioning, leaving only Ivanka Trump to be called by the Attorney General’s office on Wednesday before it wraps up its case.
The Trump side will begin calling witnesses after Ivanka’s testimony, including recalling Trump’s two eldest sons, Don Jr. and Eric, Trump’s attorney confirmed Monday.
The case – which was originally scheduled to last until the Christmas holidays – is now expected to end around December 15, Trump’s lawyers told the judge on Monday.
Outside court after the hearing ended for the day, Trump said the case should be dismissed immediately and blasted the judge and Attorney General for what he called a “fraud” against him.
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Source: thtrangdai.edu.vn/en/
