Clicky
World

Trump Business Empire under threat as NY fraud trial opens


By Reuters
Published : 02 Oct 2023 09:37 PM

Former US President Donald Trump said he will appear in a New York court on Monday at the beginning of a civil fraud trial in which the former president will face what he said was a “sham” accusation that he fraudulently inflated the value of properties and other assets.

“I’m going to Court tomorrow morning to fight for my name and reputation,” Trump said on his Truth Social account on Sunday.

Trump lashed out in his post at New York state Attorney General Letitia James and the judge in the case, who Trump called “unfair, unhinged, and vicious in his pursuit of me.”

In a decision last week, New York state Judge Arthur Engoron found that Trump and his family business fraudulently inflated the value of his properties and other assets to suit their business needs.

Trump and the other defendants have argued that they never committed fraud.

“He values Mar-a-Lago, in Palm Beach, Florida, at 18 Million Dollars, when it is worth 50 to 100 times that amount. His valuations are FRAUDULENT in pursuit of Election Interference, and worse. THIS WHOLE CASE IS SHAM!!! See you in Court — Monday morning,” Trump said in his post, referring to the judge and the case.

Trump had been sued in September 2022 by state attorney James, who accused him, his adult sons, the Trump Organization and others of “staggering fraud” in how they valued properties.

James is seeking at least $250 million in penalties, a ban on Trump and his sons, Donald Jr and Eric, from running businesses in New York, and a five-year commercial real estate ban against Trump and the Trump Organization.

The case is unrelated to the four criminal indictments that Trump faces, including for trying to overturn the 2020 presidential election.

AFP adds: Donald Trump faces fresh legal danger on Monday as a civil fraud trial against the former president and two of his sons begins in New York, threatening the Republican frontrunner's business empire as he campaigns to retake the White House with four criminal cases looming.

In Monday's case, Judge Arthur Engoron has already ruled that Trump and his sons Eric and Don Jr. committed fraud by inflating the value of the real estate and financial assets of the Trump Organization for years.

Trump said late Sunday night he planned to be present for the start of the trial Monday morning.

"I'm going to Court tomorrow morning to fight for my name and reputation," the 77-year-old wrote on his Truth Social platform.

"This whole case is a sham!!!" he added.

In addition to this civil case, Trump also faces several major criminal proceedings in the months ahead.

He is scheduled to appear before a federal judge in Washington on March 4, on charges of trying to overthrow the results of the 2020 presidential election won by Joe Biden.