Trump appears in court, could lose business over fraud
October 2, 2023
Donald J. Trump was in New York to appear before a judge in one of the myriad civil and criminal trials that the 77-year-old former US president and front-runner for the Republican Party's 2024 presidential nomination is currently engaged in.
In New York, he appeared voluntarily in a civil suit that could cost him and his sons control of their family business empire.
Last week, Judge Arthur Engoron ruled in favor of New York Attorney General Letitia James, finding that Trump and his sons had grossly inflated the size and value of Trump Organization real estate and financial assets, in what James had called a pattern of "persistent and repeated fraud."
Engoron found that Trump and his sons lied to tax collectors, lenders and insurers, regularly inflating the value of their holdings by $812 million-$2.2 billion (roughly €750 million to €2.1 billion) from 2014 to 2024.
In the ruling, some of the Trump Organization's operating licenses in New York were revoked. Should the Engoron's ruling be upheld upon appeal, Trump could lose control of properties such as Trump Tower.
Trump called the case a "sham," repeating his well-worn refrain: "This is a continuation of the single greatest witch hunt of all time."
Trump's 'phenomenal' financial statements have disclaimer saying do not trust these numbers
Enrogon, who ruled against Trump last week, will now preside over a nonjury trial on six further claims in James' suit. These include: conspiracy, falsifying business records and insurance fraud.
Trump, who called the case "a corporate death penalty," claimed on his social media platform, Truth, on Sunday night that "I have a Deranged, Trump Hating Judge, who RAILROADED this FAKE CASE through a NYS Court at a speed never before seen."
"My financial statements are phenomenal," Trump said Monday.
In recent sworn testimony, Trump — whom James said inflated his own personal wealth by as much as $3.6 billion — said he couldn't be accused of filing bogus numbers because his financial statements were accompanied by a disclaimer advising people to "go out and do your own work" to appraise the value of his holdings. He said the disclaimer should have led people to surmise his stated figures were "worthless."
js/msh (AFP, AP)