Trump civil fraud trial testimony concludes, verdict expected in early 2024
Trump civil fraud trial testimony concludes, verdict expected in early 2024 By Reuters
Breaking News
‘;
Published Dec 13, 2023 12:42PM ET
Updated Dec 13, 2023 05:26PM ET
© Reuters. Former U.S. president Donald Trump listens as defense lawyer Christopher Kise speaks during the Trump Organization civil fraud trial in New York State Supreme Court in the Manhattan borough of New York City, U.S., December 7, 2023 in this courtroom sketch
By Jack Queen
(Reuters) -Testimony concluded on Wednesday in Donald Trump’s civil fraud trial in New York, where the former U.S. 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 $250 million and sharply curtail his ability to do business in New York, home to several of his iconic properties.
Trump, the frontrunner for the 2024 Republican presidential nomination, has denied wrongdoing and called the case a “scam.”
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 Wednesday that the trial “revealed the full extent” of Trump’s fraud and his “inability to disprove it.”
Trump’s lawyer Chris Kise said the 11-week trial confirmed “there was no fraud, harm, or damage of any kind” to Trump’s bankers, who Kise said viewed him as a “premier client.”
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 centered 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 James, an elected Democrat, and 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 James and 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 on social media.
Engoron fined Trump a total of $15,000 for twice violating the order, which Trump is appealing.
The case carries potentially grave consequences for Trump’s real estate empire, the source of his sizable wealth and springboard into politics.
In September, Engoron found Trump liable for fraud and canceled 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 Trump is almost certain to appeal any verdict against him.
Trump 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 Dec. 11 found that 61% of Republicans said they would for Trump in the state-by-state nominating contest to pick a challenger to Biden.
Trump civil fraud trial testimony concludes, verdict expected in early 2024
Terms And Conditions
Privacy Policy
Risk Warning
Do not sell my personal information
© 2007-2023 Fusion Media Limited. All Rights Reserved.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.