Trump civil fraud trial testimony concludes, verdict expected in early 2024
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Donald Trump, the front runner for the 2024 Republican presidential nomination, is accused of lying about his net worth to dupe lenders.
PHOTO: REUTERS
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NEW YORK – Testimony concluded on Dec 13 in Donald Trump’s civil fraud trial in New York, where the former US president is accused of lying about his net worth to dupe lenders.
The lawsuit by the New York Attorney-General seeks to fine Trump at least US$250 million (S$332 million) and sharply curtail his ability to do business in New York, home to several of his iconic properties.
Trump, the front runner for the 2024 Republican presidential nomination,
The judge presiding over the case, Justice Arthur Engoron, is expected to issue a verdict in writing after closing arguments on Jan 11.
New York Attorney-General Letitia James, who brought the case, said in a statement on Dec 13 that the trial “revealed the full extent” of Trump’s fraud and his “inability to disprove it”.
Trump’s legal team did not immediately respond to a request for comment.
Justice Engoron has already ruled that Trump’s financial statements were fraudulent, largely limiting the trial to damages. Trump is appealing.
The trial began on Oct 2 and centred on financial documents and expert testimony. It also featured closely watched trips to the witness stand by Trump, his adult children and his former lawyer and fixer Michael Cohen.
During defiant and meandering testimony in November, Trump acknowledged that asset valuations on his financial statements were inaccurate but said any errors were irrelevant to banks that used them to price his loans.
Trump also lashed out at Ms James, an elected Democrat, and Justice Engoron, accusing them of political bias against him.
Trump lobbed the same grievances in inflammatory remarks to reporters during his occasional court appearances, which he complained were interfering with his campaign.
Trump had free rein to attack Ms James and Justice Engoron but was barred from speaking publicly about court staff under a limited gag order imposed after he posted about the court’s top clerk
Justice Engoron fined Trump a total of US$15,000 for twice violating the order, which Trump is appealing against.
The case carries potentially grave consequences for Trump’s real estate empire, the source of his sizeable wealth and springboard into politics.
In September, Justice Engoron found Trump liable for fraud and cancelled business certificates for crown jewels of his portfolio, including Trump Tower and 40 Wall Street in Manhattan.
That order is on hold while Trump appeals, and he is almost certain to appeal any verdict against him.
He faces a raft of other legal troubles as he campaigns to face President Joe Biden in the November 2024 election, including four criminal cases. He has pleaded not guilty in all four.
None have diminished his commanding lead over rivals for the nomination. A Reuters/Ipsos poll completed on Dec 11 found that 61 per cent of Republicans said they would vote for Trump in the state-by-state nominating contest to pick a challenger to Mr Biden. REUTERS
