United States: Donald Trump’s civil fraud trial in New York will culminate with closing statements on Thursday, as the state’s attorney general seeks roughly $370 million in penalties from the former president for overstating his net worth to banks.
According to the report by Reuters, New York Attorney General Letitia James filed a lawsuit alleging that Trump and his colleagues misrepresented the worth of his assets by billions of dollars to gain better loan terms and other financial perks for more than ten years.
The Frontrunner for the Republican presidential nomination, former president Donald Trump, has denied any mishappening and called this investigation a political witch hunt. He has claimed that the trial is interfering with his campaign but has used occasional court appearances to rally support with inflammatory remarks to news cameras assembled outside.
Engoron’s decision
Justice Arthur Engoron, the trial judge, dismissed Trump’s request to deliver his own closing remarks on Wednesday after the former president refused to accept ground rules prohibiting him from giving a “campaign speech.”
As per Reuters, Republican voters in Iowa and New Hampshire this month will be the first to choose their preferred nominee in contests viewed as critical bellwethers for the overall race.
The case is one of numerous legal issues confronting Trump as he seeks to oppose President Joe Biden in the November 2024 race, but none has weakened his huge lead over opponents.
Engoron ruled over the Manhattan trial and will deliver a verdict without a jury at a later date. He found Trump guilty of fraud in September, allowing the trial to focus primarily on how much money Trump should forfeit as ill-gotten riches.
Legal Battles and Trump’s Reaction
Trump has challenged Engoron’s prior ruling and is almost certain to appeal any conviction against him, potentially delaying a final judgment for months to a year or more.
Trump has chafed at Engoron’s handling of the trial since the judge issued a gag order prohibiting him from denigrating court officials. He has been fined $15,000 for twice breaking the restriction.
Testimonies and Allegations
Throughout the trial, the state’s lawyers attempted to demonstrate that Trump systematically overvalued many of the skyscrapers, golf clubs, and other properties that helped him build his reputation as a business magnate before entering politics.
During his angry and meandering testimony in November, Trump defended the value of his properties, boasted of his business skills, and accused James and Engoron of being political partisans.
Trump’s Trial
The trial featured a dramatic face-to-face reunion between Trump and his onetime lawyer and fixer, Michael Cohen, who had not seen his former boss in person since their bitter split five years prior. Cohen claimed Trump told him to adjust asset values on his financial filings to achieve whatever arbitrary net worth he wanted.
Trump’s lawyers claimed Cohen lacked credibility due to his prior felony convictions and obvious hostility against Trump. That was the foundation for one of their numerous requests for an immediate ruling in their favor, which Engoron declined.
Trump’s adult children, Donald Jr., Eric, and Ivanka Trump, also testified, claiming they had little to no role in producing their father’s financial statements while operating the Trump Organization. All three have denied wrongdoing. Ivanka Trump, unlike her brothers, is not a defendant.
Trump might face four criminal trials this year. He has pleaded not guilty in all of the cases he was accused of. He has faced charges in Washington and Georgia for attempting to reverse his 2020 election loss.
He was also charged in Florida for handling confidential data and in New York for paying hush money to a porn star.