Donald Trump Repeatedly Clashes With Judge in Civil Fraud Trial
Category: World News
Prosecutors are seeking a $250m fine and severe business restrictions.
During his highly anticipated appearance at a Manhattan federal courthouse on Monday, Mr Trump, 77, was asked about the value of various properties including his Florida estate Mar-a-Lago, Trump Tower in New York and his golf course in Scotland.
These properties are among several that prosecutors say were intentionally overvalued in company statements in order to secure better loans and insurance policies.
In his testimony, Mr Trump, who is the current frontrunner for the 2024 Republican presidential nomination, stood by the valuations as prosecutors quizzed him on how they were reached and the financial statements at the centre of the trial.
“I’m worth billions of dollars more than the financial statements,” Mr Trump said, before describing the property valuations as “very conservative.”
He said the property values were bolstered by his personal brand, something he said was never factored into financial statements.
“I can look at buildings and tell you what they’re worth,” he said in another testy exchange.
The lawsuit was brought by New York Attorney General Letitia James, who accuses Mr Trump, along with his sons Eric and Donald Jr and other Trump Organization executives, of deliberately inflating company assets for years.
All deny wrongdoing.
Ms James, who was in the courtroom and stared directly at Mr Trump during his testimony, later told reporters: “He rambled. He hurled insults. But we expected that.”
“The numbers don’t lie,” she said. “Justice will prevail.”
Donald Trump clashed repeatedly with a judge and defended his family’s business as he testified in a civil fraud trial in New York.
During almost four hours on the witness stand, the former president disputed claims that he deceived banks and aired grievances with the case.
The judge has already ruled the Trump Organization committed fraud and this trial will determine the penalties.
During almost four hours on the witness stand, the former president disputed claims that he deceived banks and aired grievances with the case.
The judge has already ruled the Trump Organization committed fraud and this trial will determine the penalties.
READ: Ban all Muslim travel to U.S- Donald Trump
Prosecutors are seeking a $250m fine and severe business restrictions.
During his highly anticipated appearance at a Manhattan federal courthouse on Monday, Mr Trump, 77, was asked about the value of various properties including his Florida estate Mar-a-Lago, Trump Tower in New York and his golf course in Scotland.
These properties are among several that prosecutors say were intentionally overvalued in company statements in order to secure better loans and insurance policies.
In his testimony, Mr Trump, who is the current frontrunner for the 2024 Republican presidential nomination, stood by the valuations as prosecutors quizzed him on how they were reached and the financial statements at the centre of the trial.
READ: I will Take Only $1 Per Annum as my Salary- Donald Trump
“I’m worth billions of dollars more than the financial statements,” Mr Trump said, before describing the property valuations as “very conservative.”
He said the property values were bolstered by his personal brand, something he said was never factored into financial statements.
“I can look at buildings and tell you what they’re worth,” he said in another testy exchange.
The lawsuit was brought by New York Attorney General Letitia James, who accuses Mr Trump, along with his sons Eric and Donald Jr and other Trump Organization executives, of deliberately inflating company assets for years.
READ: Donald Trump Blasts Meghan Markle For ‘Disrespecting’ The Queen
All deny wrongdoing.
Ms James, who was in the courtroom and stared directly at Mr Trump during his testimony, later told reporters: “He rambled. He hurled insults. But we expected that.”
“The numbers don’t lie,” she said. “Justice will prevail.”
No comments