The civil case, brought by New York Attorney General Letitia James, accuses the business-mogul-turned-politician and his company of deceiving banks, insurers and others by habitually misstating his wealth in financial statements.
Trump showed up voluntarily for the trial, with his control over Trump Tower and some other major real estate holdings in jeopardy. Judge Arthur Engoron already has ruled that Trump committed fraud in his business dealings. That ruling last week, if upheld on appeal, could force Trump to give up New York properties including Trump Tower, a Wall Street office building, golf courses and a suburban estate. Trump has called it a “a corporate death penalty” and insisted the judge is unfair and out to get him.
Trump isn’t expected to testify for several weeks. His trip to court Monday marked a remarkable departure from his past practice. Wallace said the alleged scheme got the company better loan rates, saving it $100 million in interest.
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