Former President Donald Trump faced a tumultuous start to his trial in a fraud lawsuit in New York on Monday, as he listened to lawyers from New York Attorney General Letitia James’ office accuse him of being a habitual liar. The lawsuit, brought by the state of New York, alleges that Trump and his company deceived banks, insurers, and others by misrepresenting his wealth in financial statements over several years. The trial could potentially result in Trump losing control of properties, including Trump Tower and other valuable assets.
During a lunch break, Trump expressed his dissatisfaction with the trial, labeling it as “disgraceful.” He referred to it as a “sham” and a “scam,” asserting that it was a waste of the state’s time and part of what he called “the single greatest witch hunt of all time.” Trump, who is currently the leading Republican candidate for the 2024 presidential race, also claimed that James, a Democrat, was attempting to hinder his return to the White House.
Despite his strong words, Trump left court for the day asserting that he had achieved a victory, pointing to remarks made by Judge Arthur Engoron. The judge suggested that some of the suit’s allegations were too old, specifically concerning Trump’s 2011 financial statement. While Trump denied any wrongdoing, Engoron ruled last week that Trump had committed fraud in his business dealings. If this ruling is upheld on appeal, Trump could be forced to give up several properties in New York.
The trial focuses on six remaining claims in the lawsuit, including allegations of conspiracy, insurance fraud, and falsifying business records. James is seeking $250 million in penalties and a ban on Trump conducting business in New York.
Trump maintains that James and the judge are undervaluing his assets, such as his Mar-a-Lago resort in Florida. He and his lawyers argue that disclaimers on his financial statements made it clear that they were estimates, and that banks would have had to conduct their own analysis.
The trial is expected to continue for several weeks, and while Trump is not expected to testify immediately, his attendance marked a significant departure from his previous practices. He did not attend court when his company and one of its top executives were convicted of tax fraud last year, nor did he attend a civil trial earlier this year in which he was found liable for sexually assaulting writer E. Jean Carroll.
The New York fraud trial is one of several legal challenges facing Trump as he campaigns to return to the White House. He has been indicted four times since March on charges related to his attempts to overturn the 2020 election results and other legal issues. The trial is expected to extend into December.
Gary P Hernal started college at UP Diliman and received his BA in Economics from San Sebastian College, Manila, and Masters in Information Systems Management from Keller Graduate School of Management of DeVry University in Oak Brook, IL. He has 25 years of copy editing and management experience at Thomson West, a subsidiary of Thomson Reuters.
