Former President Donald Trump is set to testify Monday in a $250 million civil fraud trial that could determine the fate of the New York real estate empire that propelled him to fame.
Trump, 77, is expected to take the witness stand at about 10 a.m. in Manhattan Supreme Court in a lawsuit brought by New York Attorney General Letitia James accusing him of exaggerating his wealth to defraud banks and insurance companies and save money.
His testimony will mark the culmination of a month-long trial in which the Attorney General’s office has assembled a steady stream of accountants, appraisers and Trump Organization officials — including the former president’s eldest son, Donald Trump Jr. and Eric Trump, who is also a defendant in the suit.
Both testified last week that they were not involved in their father’s annual “statement of financial condition” — a document that James claims Trump falsified over a decade by inflating his assets by billions a year for better loan and insurance terms.
Manhattan Supreme Court Justice Arthur Engoron – who decided the case – had found Trump liable for fraud in a ruling issued days before the trial, writing that the real estate mogul had valued his assets as if he were living in a “fantasy world” on financial filings between 2011 and 2021.
Donald Trump is expected to testify in a $250 million fraud suit that threatens his real estate empire.AP
The filing contained “undeniably false” claims, Engoron wrote — including that Trump’s soaring Midtown penthouse was 30,000 square feet when it was actually closer to 11,000 feet.
Engoron ordered Trump’s New York-based business liquidated — which could force the 2024 GOP presidential candidate to eventually hand over Trump Tower and other properties to a court-ordered receiver.
Trump’s legal team appealed the decision, and James’ office agreed to delay the annulment as the case progressed.
Six other claims remain to be decided, including three counts of “conspiracy,” in which James’ office is tasked with proving that Trump had “intent” to falsify business records and defraud insurance companies.
Trump has attended several days of the hearing.AP
The state’s key witness in the conspiracy case is Trump’s former personal lawyer and “fixer” Michael Cohen, who claims on the stand that his old boss told him to “reverse engineer” his assets to meet “whatever number” Trump wanted.
But under cross-examination from Trump’s lawyers, Cohen admitted that the former president had not explicitly “directed” him to increase the value.
Instead, Trump operated “like a mob boss” and simply implied that he and former Trump Org Chief Financial Officer Allen Weisselberg intended to manipulate the filings to achieve the amount of raises Trump wanted, Cohen testified.
“He tells you what he wants without telling you specifically,” Cohen said.
Trump is likely to be asked about the alleged meeting with Cohen and Weisselberg on Monday.
New York Attorney General Letitia James — whose office is prosecuting the case — was also present on the day of the landmark hearing and when Trump was present.AP
It will technically be Trump’s second time testifying during the trial in a lower Manhattan courtroom — although he will speak longer this time and is expected to be the only witness called Monday.
When Cohen testified on October 25, Trump was called to the witness stand for a surprise hearing after he appeared to berate the court’s chief law clerk while speaking to reporters during a morning break.
After Trump claimed that he actually blasted Cohen and not his clerk, an unconvinced Engoron berated him as “untrustworthy” — and fined him $10,000 — for violating a limited gag order from earlier in the trial that prevented the former president from speaking publicly about court personnel.
Track all Trump allegations
Former President Donald Trump faces 91 charges in four separate criminal cases after he took office.
Here are all the legal troubles Trump will face as he heads into the 2024 election.
Mar-a-Lago classified documents
- Trump is the first former president to receive federal indictment.
Former President Donald Trump faces several allegations as he heads into the 2024 election. AFP via Getty Images
- Trump is accused of taking about 11,000 documents, some containing sensitive national security secrets, and stashing them haphazardly at his Palm Beach, Florida, estate.
- The most serious charge, in this case, carries a prison sentence of up to 20 years.
Stormy Daniels ‘shut up money’
Former President Donald Trump is accused of falsifying business records in his “hush money” payments to Stormy Daniels. AP
- Trump’s lawyer at the time, Michael Cohen, paid Daniels $130,000 in exchange for her silence about the sexual encounters he alleged the two had.
- Trump has pleaded not guilty to the charges and is trying to take the case to federal court. He is set to appear in court on January 4, 2024.
2020 election cancellation bid
- Special counsel Jack Smith charged the former president with four counts related to his attempt to nullify the 2020 election.
- Prosecutors allege that the 45th president’s ongoing allegations of electoral fraud that led to his re-election “are false and [Trump] know they are fake.”
Supporters of President Donald Trump storm the US Capitol in Washington on January 6, 2021. AP
- The indictment is the second brought by Smith against the 77-year-old Trump.
- A group of Trump supporters stormed the US Capitol on January 6, 2021, following his speech on the Ellipse.
- Charges against the former president include violations of Georgia’s anti-extortion laws, conspiracy, false statements, and soliciting a public official to violate their oath of office.
Georgia 2020 election investigation
- Trump and 18 of his allies and supporters have been indicted by a Georgia grand jury in connection with his efforts to overturn the 2020 election results in the Peach State.
- The former president faces 13 charges in the case, according to a docket posted prematurely to the Fulton County Superior Court website around noon.
New York civil case
- The former president was sued by New York Attorney General Letitia James.
- James claims Trump and his three children lied to banks about his assets and net worth in the billions.
- He is seeking a $250 million fine and a ban on Trump doing business in New York state.
(From right) Trump and his children Ivanka, Don Jr. and Eric are named in James’ suit.AP
- In another civil case, Trump was found liable for sexually assaulting and defaming author E. Jean Carroll in the 1990s.
- Carroll was awarded $5 million in damages from Trump.
- Trump was found not guilty of rape after a jury rejected Carroll’s claim that Trump raped her in Bergdorf Goodman’s fitting room.
Last week Donald Trump Jr. and Eric Trump both testified.AFP via Getty Images
Trump has already been fined $5,000 and warned twice about making public attacks on law clerk Allison Greenfield, whom he disparaged ahead of the start of the trial in a since-deleted post on Truth Social.
The Attorney General’s office had planned to call Trump as their final witness in the case, but the former president’s daughter Ivanka Trump is now scheduled to testify Wednesday as the government wraps up its case. Courts are closed on Tuesday for election day.
Trump joined Truth Social on Thursday as his eldest son was in court lashing out at the case, the judge and the Attorney General, claiming his children were “mistreated.”
The case threatens Trump’s real estate company because a judge has ruled that his business license in the state should be revoked.dpa/picture alliance via Getty Images
The 2024 GOP presidential front-runner attended the seven-day trial — because he doesn’t have to appear for civil cases, like he does for criminal cases.
He took every opportunity in front of media cameras in court to lash out at the judge, the Attorney General and the trial as a political witch hunt and has denied any wrongdoing.
The five weeks of the trial so far have seen the AG himself watch from the front row on key days often when Trump is also present and when key witnesses like Trump’s son testify.
On Thursday, an appeals court judge denied Ivanka’s bid to try to get out of testifying in the case — which she had been denied from earlier this year because of the statute of limitations. Following the loss, he withdrew his appeal.
When the AG’s case wraps up after Ivanka’s testimony, Trump’s lawyers will then be able to present their own case and question their own witnesses — of which they have 128 listed to potentially call.
The trial is expected to end around Christmas.
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Source: thtrangdai.edu.vn/en/
