and his family business are facing trial in New York to determine how much they owe in penalties after a judge found they inflated the former United States president’s assets by billions of dollars to secure more favourable loan and insurance terms.
James’s office said the former president and his associates used incorrect figures for the sizes of his properties and false or highly unrealistic assumptions about their development potential to arrive at the inflated values.
The full implications of that ruling on Trump’s opaque network of business holdings is not yet clear but the trial could provide clarity over whether the assets at the centre of the dispute will be liquidated.Trump’s lawyers have disputed James’s figures, saying they are based on flawed accounting methods that fail to consider his “investment genius” in arriving at his own asset valuations.
In a post on his Truth Social platform the day of the ruling, Trump called accusations that he committed fraud “ridiculous and untrue,” and blasted Engoron as a “deranged” judge. – ReutersBudget 2024: USC cuts and up to three new household energy credits under consideration
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What's at stake in the civil fraud case against Trump?Donald Trump and his family business are set to face trial in New York today to determine how much they owe in penalties after a judge found they inflated the former US president's assets by billions of dollars to secure more favorable loan and insurance terms.
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Trump to appear in court for civil fraud trialDonald Trump faces fresh legal danger today 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.
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