Today: March 04, 2024
Today: March 04, 2024

Trump civil fraud trial testimony concludes, verdict expected in early 2024

Share This
Trump civil fraud trial testimony concludes, verdict expected in early 2024
Reuters
Jack Queen
December 13, 2023

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 legal team did not immediately respond to a request for comment.

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.

(Reporting by Jack Queen; Editing by Noeleen Walder and Alistair Bell)

Popular

US sanctions Zimbabwe president Emmerson Mnangagwa over human rights abuses

The United States has sanctioned Zimbabwe’s President Emmerson Mnangagwa, the First Lady and other government officials for their alleged involvement in corruption and human rights abuses

Top 10 shuffle in women's AP Top 25 as Stanford and Iowa move up behind No. 1 South Carolina

No. 2Stanford and No. 3 Iowa have jumped up behind top-ranked South Carolina in The Associated Press Top 25 women’s basketball poll

Fed's Bostic: No urgency to cut interest rates given US economy's strength

By Howard Schneider WASHINGTON (Reuters) - The U.S.

AP Decision Note: What to expect in Hawaii's Democratic presidential caucuses

Hawaii Democrats will hold a presidential preference vote on Wednesday as President Joe Biden moves closer to securing the delegates needed to clinch nomination for a second term in the White House

Nippon Steel exec to meet USW head to seek support for U.S. Steel deal

By Yuka Obayashi and Ritsuko Shimizu TOKYO (Reuters) - A senior Nippon Steel executive told Reuters he is set to meet the United Steelworkers (USW) union chief this month to seek support for acquiring

US issues fresh curbs on Zimbabwe president, others; terminates sanctions program

WASHINGTON (Reuters) - The United States on Monday terminated a Zimbabwe sanctions program and reimposed curbs on nine people and three entities, including the country's president, over their alleged

Related

Sinéad O'Connor's label asks Trump to stop using her music

LONDON (Reuters) - Late Irish singer and activist Sinéad O'Connor's label demanded Donald Trump to stop using her music in political rallies, adding her to a list of artists from Taylor Swift to

Scientists have used cells from fluid drawn during pregnancy to grow mini lungs and other organs

Scientists in the United Kingdom have created mini organs from cells floating in the fluid that surrounds a fetus in the womb

US senior envoy in Beirut to press calm along Lebanon-Israel border as a truce in Gaza is pursued

Senior U.S. envoy Amos Hochstein, who is visiting Beirut, says if a truce is reached in the Gaza Strip, it will not automatically translate to calm along the volatile Lebanon-Israel border which has witnessed a rise in tensions

Iran election turnout hits record low, hardliners maintain grip on parliament

By Parisa Hafezi DUBAI (Reuters) - Turnout in Iran's parliamentary election was around 41%, the country's interior minister said on Monday, the lowest participation since Iran's 1979 Islamic

- Advertisement -
Advertisement: Limited Time Offer