Former President Donald Trump to Give Testimony in High-Stakes Trial
Former President Donald Trump is set to take the stand on Monday in a civil fraud trial that could have significant implications for his business empire in New York. New York Attorney General Letitia James has brought the case against Trump, seeking $250 million in damages and a ban on the former president from conducting business in the state. The charges allege that Trump and his co-defendants engaged in repeated fraud by inflating assets on financial statements to obtain better terms on loans and insurance policies for commercial real estate.
While the trial does not involve criminal charges, it has angered Trump, who has attended multiple days of proceedings and criticized it as a political witch hunt. Prior to the start of the trial, Judge Arthur Engoron ruled that Trump and his co-defendants were liable for “persistent and repeated” fraud. Now, the judge is considering the amount of damages the Trumps will have to pay for the profits they allegedly obtained through fraudulent practices.
The attorney general’s office is also seeking to prove six other claims, including falsifying business records, issuing false financial statements, and insurance fraud. Trump’s testimony on Monday will provide the first opportunity to see how he responds under hostile questioning, which may provide insights into his potential performance in the four criminal trials he faces next year as he campaigns for the presidency.
The trial is not televised, but Trump’s appearance on the witness stand is expected to be a high-profile moment in his 2024 campaign. Trump has repeatedly referenced his legal challenges as a reason why voters should return him to the White House. Observers will closely watch how Trump responds to questioning, as his tendency to spread falsehoods may present risks while testifying under oath. Additionally, Trump’s conduct during the trial has already been a contentious issue, with him being fined twice for violating a gag order.
The civil case holds significant importance for Trump as it strikes at the core of his image as a billionaire real estate tycoon. The New York attorney general claims that Trump inflated his net worth to save hundreds of millions of dollars. James also seeks to dissolve Trump’s companies and prevent him from doing business in the state. Trump’s lawyers have disputed the allegations, arguing that asset valuation is subjective and have criticized the proceedings as biased against the former president.
During the trial, Trump’s adult sons, Donald Trump Jr. and Eric Trump, testified, distancing themselves from the preparation of Trump’s financial statements. Trump’s former lawyer Michael Cohen testified that Trump had directed him to inflate property values, while Allen Weisselberg, the Trump Organization’s former CFO, denied such a meeting ever taking place. While some have claimed that Cohen’s contradictions help Trump’s case, Engoron denied a motion to dismiss the trial, stating there is substantial evidence beyond Cohen’s testimony.
Trump’s testimony is expected to focus on the valuation of his properties, such as the 40 Wall Street building, Trump National Doral Miami golf course and resort, and the Trump International Hotel & Tower in Chicago. The case also addresses the tax status and value of Trump’s Mar-a-Lago resort in Florida. Trump’s attorney claimed that the $18 million valuation of Mar-a-Lago, based on a tax assessor’s appraisal, was flawed, suggesting it could sell for at least $1 billion.
Following Trump’s testimony, his daughter Ivanka Trump is scheduled to take the stand on Wednesday, after dropping an appeal against the judge’s ruling for her to testify. Ivanka is not a co-defendant in the case due to the statute of limitations. It remains unclear whether Trump’s attorneys will cross-examine Donald Trump Jr. or Eric Trump, and his testimony is expected to conclude on Monday, although it could potentially extend to Wednesday.