NEW YORK: On Monday, a civil fraud trial against the former president and two of his sons begins in New York, endangering the Republican frontrunner’s economic empire as he seeks to win the White House while facing four criminal prosecutions.
In Monday’s lawsuit, Judge Arthur Engoron already concluded that Trump and his sons Eric and Don Jr. committed fraud by misrepresenting the worth of the Trump Organization’s real estate and financial assets for years. Trump said late Sunday night that he would be present for the opening of the trial on Monday morning.
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“I am set to appear in court tomorrow morning to defend my name and reputation,” wrote the 77-year-old on his Truth Social platform.
He added, “This entire case is a fraudulent scheme!!!”
Apart from this civil case, Trump is also facing several significant legal proceedings in the coming months.
He is scheduled to make an appearance before a federal judge in Washington on March 4th, facing charges related to his alleged attempts to undermine the results of the 2020 presidential election, which was ultimately won by Joe Biden.
Following that, Trump will once again find himself in a New York state court, this time facing criminal charges related to hush money payments. Later on, he will be in a Florida federal court, facing accusations of mishandling classified documents after leaving office.
What are the charges against former President Trump?
James filed a lawsuit against Trump and his company, alleging that they provided false information in their financial statements to banks. In a recent court document, James’ office claimed that Trump inflated his wealth by up to $3.6 billion.
Among the accusations, it was stated that Trump greatly exaggerated the size and value of his Trump Tower apartment in Manhattan, claiming it was worth an astonishing $327 million when no New York City apartment has ever sold for anywhere close to that amount, according to James.
Additionally, Trump valued Mar-a-Lago at an excessively high amount, stating it was worth as much as $739 million, which was more than 10 times its reasonable value, as per James. This valuation was based on the notion that the property could be developed for residential use, even though deed terms prohibited such development.
Trump has denied any wrongdoing and argued in sworn testimony that the accuracy of his financial statements didn’t matter because they contained a disclaimer stating they should not be relied upon.
Furthermore, Trump and his legal team have asserted that no one suffered harm as a result of the information in the financial statements. The banks he borrowed from were fully repaid, business partners profited, and Trump’s company continued to thrive.
James’ lawsuit is just one of several legal challenges facing Trump as he campaigns for a potential return to the White House in the upcoming election. He has faced four indictments since March, including allegations of attempting to overturn the 2020 election, withholding classified documents, and falsifying business records related to hush money payments made on his behalf.
The trial could last into December.
