• Wed. Apr 17th, 2024

Trump civil fraud trial in New York

Trump civil fraud trial in New York

Former President Donald Trump arrives for a rally in Maquoketa, Iowa, on September 20.
Former President Donald Trump arrives for a rally in Maquoketa, Iowa, on September 20. Scott Olson/Getty Images

Former President Donald Trump will be in attendance Monday in a New York courtroom for the start of the civil fraud trial against him, his eldest sons, their companies and Trump Organization executives.

Opening statements in the civil trial over inflated assets in fraudulent financial statements come less than a week after a shocking ruling by Judge Arthur Engoron that found Trump and his co-defendants are liable for “persistent and repeated” fraud.

The ruling was a significant victory for New York Attorney General Letitia James, who brought the $250 million lawsuit last September alleging that Trump and his co-defendants committed repeated fraud in inflating assets on financial statements to get better terms on commercial real estate loans and insurance policies.

Trump inflated his net worth by as much as $3.6 billion in three separate years between 2011 and 2021, according to the attorney general’s office. Attorneys for Trump have refuted the claims, arguing that asset valuations are highly subjective and that they are still sorting through what the ruling means for the company’s future.

What’s at stake at trial: Trump and his companies could be forced to pay hefty sums in damages for the profits they’ve allegedly garnered through their fraudulent business practices. 

Engoron will consider just how much the Trumps and their businesses will have to pay. 

The judge is expected to consider claims of business records fraud and insurance fraud alleged in the lawsuit in connection to high-profile properties, though he already determined some broad level of fraud was perpetuated.  

The six causes of action are falsifying business records, conspiracy to falsify business records, issuing false financial statements, conspiracy to falsify false financial statements, insurance fraud and conspiracy to commit insurance fraud.

James’ lawsuit also asks the court to consider banning the Trumps from serving as officers of a business in New York and to stop the company from engaging in business transactions for five years.

Read more about Trump’s fraud trial.

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