NEW YORK — Former President Donald Trump is on trial in New York in a $250 million lawsuit that could alter the personal fortune and real estate empire that helped propel Trump to the White House.
Trump, his sons Eric and Don Jr., and Trump Organization executives are accused by New York Attorney General Letitia James of engaging in a decade-long scheme in which they used"numerous acts of fraud and misrepresentation" to inflate Trump's net worth in order get more favorable loan terms.
Hundreds of members of the news media are huddled outside the New York State Supreme Courthouse ahead of Trump's arrival, with some having waited overnight.After multiple in-court disputes about communications between him and his law clerk, Judge Arthur Engoron modified his limited gag order to cover attorneys in former President Donald Trump’s civil fraud trial.
“This gag order is as narrowly tailored as possible to accomplish its purpose, which is to protect the safety of my staff and promote the orderly progression of this trial,” Engoron said. Like his father, he described the case as politically motivated and decried the involvement of his family.Later, addressing reporters on the courthouse steps, he said that the state's efforts should be focused elsewhere.
Amer concluded his questioning by directly asking Eric Trump about the $2 million severance agreement between the Trump Organization and its former CFO, Allen Weisselberg. "I certified something I believed was accurate. My lawyers told me was accurate, and our financial people told me was accurate," Eric Trump said.
"I think the defense will have to give serious consideration to seeking a mistrial," Kise said, initially referencing a vague media report that"some random individual" filed a complaint on Oct. 3 alleging"accusations of partisan political activity" by the judge's clerk. "This idea that somebody notified me ... is absolutely untrue. OK? Absolutely untrue," Engoron responded."I will let everybody in the room decide what they think about Breitbart."A court spokesperson subsequently described the report as"not a serious complaint."After a day of testimony in which tempers at times flared on all sides, Eric Trump will return to court this morning for what is expected to be his final day on the witness stand.
Trump's daughter, who is not a defendant in the case, was subpoenaed by the attorney general to testify.Trump attorney decries trial as 'waste of NY taxpayer dollars' "She piggybacked on Trump to get into office. She didn't do it well enough to become governor," Habba said, referencing James' failed attempt to run for New York governor in 2021.Exiting court separately with his attorney, Eric Trump shot a thumbs-up to an onlooker ahead of his return to the stand Friday morning.
Amer had spent the better part of the afternoon highlighting emails between Eric Trump and a Cushman & Wakefield appraiser, suggesting that Eric Trump was deeply involved in the appraisal of an estate and golf course in New York's Westchester County. Attempting to paint the testimony as inconsistent, Amer played another portion the deposition Eric Trump had given to investigators.
State attorney Andrew Amer attempted to show Eric Trump multiple emails and calendar invites from 2014 and 2015 to demonstrate that he was personally involved in an appraisal by Cushman & Wakefield executive David McArdle that placed the total value of the property's undeveloped lots between $30 and $50 million.
"This is not something I ever recall seeing or working on," Eric Trump said in one clip from his deposition that was played in court."This is accounting, and that is not what I do on a daily basis."After acknowledging in his testimony that he provided Trump Organization controller Jeffrey McConney with information for his father's statement of financial condition, Eric Trump was shown video from his own deposition where he appeared to contradict his testimony in court.
Trump Jr. testified yesterday that he relied on the expertise of others when he signed the company's statements of financial condition, distancing himself from the documents at the heart of the attorney general's case. "Did you work on the statement of financial condition for June 30, 2017?" state attorney Colleen Faherty asked.Throughout the afternoon, the tone of the proceedings alternated rapidly between lighthearted and heated, varying from playful interactions between Trump Jr. and Judge Engoron, to bitter spats between some of the lawyers.
"I don't see where we are going at all with this," Trump attorney Chris Kise said at one point regarding the questioning.Trump Jr. pressed about departure of ex-CFO "Who is above you in your role as an executive vice president in the Trump Organization?" state attorney Colleen Faherty asked. State attorney Colleen Faherty tried to pressed him on his lack of accounting knowledge, prompting several objections from the defense.-ABC News' Olivia Rubin contributed to this report.Assistant New York Attorney General Colleen Faherty will start off the direct examination of Donald Trump Jr.
Her willingness to spar with Trump lawyer Chris Kise previously led to some heated exchanges in court, such as a sidebar when Faherty demanded Kise"be more respectful."Donald Trump Jr. takes the stand Unlike his father and his brother Eric Trump -- who have visited the courtroom to watch the proceedings – Donald Trump Jr. has not stepped foot inside the courthouse for the trial until today.
That prompted Trump lawyer Chris Kise to criticize Engoron for placing an unfair standard on the defense team. "Historically banks have been willing to lend to high-net-worth individuals at low rates because they get repaid?" Suarez said, citing McCarty's direct examination.Suarez then reminded McCarty that Trump's loans were paid on time -- a point that the former president has reiterated during his appearance in court and on social media.
State attorney Kevin Wallace directed McCarty to a footnote in Judge Engoron's earlier summary judgment order about the concept of lost interest, in which Engoron said,"The subject loans made the banks lots of money; but the fraudulent SFCs cost the banks lots of money. The less collateral for a loan, the riskier it is, and a first principle of loan accounting is that as risk rises, so do interest rates.
McCarty said that he has worked as an expert witness on"dozens of cases" and testified at 15 trials. But he acknowledged that he had limited experience with the compilation of statements of financial condition, prompting an objection from Trump's lawyer Chris Kise. Defense attorneys have previously tried to downplay the extent to which Ivanka Trump was involved in the representation of Trump's finances.
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