This Monday the civil trial for fraud begins against Donald Trump, his company The Trump Organization and several of its executives, including the former president’s eldest children. The process begins after Trump’s failure to postpone it following the indictment filed in September 2021 by New York Attorney General Letitia James.
The lawsuit, which accuses Trump of participating for years in financial fraud to obtain economic benefits, represented one of the first links in an impressive chain of legal problems of a civil and criminal nature, and of state and federal jurisdiction, that currently They afflict him in the middle of an electoral campaign with which he seeks to return to the White House.
What the trial against Donald Trump that begins on Monday is about
The lawsuit alleges that Donald Trump, with the help of his children Donald Trump, Jr., Ivanka Trump and Eric Trump, and senior executives of the Trump Organization, falsely inflated his net worth by billions of dollars in order for the company obtained loans on more favorable terms than they would have been able to obtain without the deception.
According to the lawsuit, the alleged fraudulent activity also induced insurers to provide insurance coverage with higher limits and lower premiums, and helped Trump obtain tax benefits, among other benefits.
The lawsuit alleges that between 2011 and 2021, Trump and The Trump Organization knowingly and intentionally created more than 200 false and misleading asset valuations in their annual filings to defraud financial institutions.
The Prosecutor’s Office seeks to: 1) permanently prohibit Trump and his adult children from serving as officers or directors of any New York corporation; 2) prohibit Trump and The Trump Organization from making real estate purchases in New York for five years and 3) grant disgorgement of all financial benefits obtained through persistent fraudulent practices, estimated to total $250 million.
Incidents and current status of the New York Prosecutor’s Office’s civilian case against Trump
The civil fraud trial in New York against Trump begins this Monday, October 2, the date initially scheduled, after an appeals court lifted a temporary suspension of the start of the trial.
The order, issued Thursday, came hours after James announced that he plans to call Trump and three of his adult children as witnesses in the trial of his lawsuit in Manhattan Supreme Court.
The five-judge panel rejected a request by Trump to halt the start of the trial because it disagreed with the argument that some of the alleged fraudulent actions alleged in the lawsuit fell outside the statute of limitations.
In early September, an appeals judge temporarily stayed the trial to give the appeals court time to decide whether to impose a longer delay while considering Trump’s request to dismiss some allegations.
The judge relied on a separate appeals court decision in June, which removed Ivanka Trump as a defendant in the case because it ruled that the actions against her were time-barred.
On Tuesday, Magistrate Court Judge Arthur Engoron found the defendants liable for fraudulently inflating those properties and other assets, stripped the defendants of their business licenses and ordered the appointment of an independent receiver to oversee the dissolution of those businesses.
The trial will address the six remaining claims in James’ lawsuit, which seeks about $250 million in damages and a ban on the defendants from doing business in New York state.
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2023-10-01 22:21:00
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