New York, NY – Former President Donald Trump adamantly asserted his innocence during the closing arguments of his New York civil fraud trial. Trump’s attorney, Chris Kise, requested that his client be allowed to speak for a few minutes in court, emphasizing that nobody is more directly affected by the case than Trump himself. This trial, brought forth by New York Attorney General Letitia James, has the potential to result in a significant financial blow for Trump, potentially costing him up to $370 million as well as his New York real estate empire.
Judge Arthur Engoron initially rejected Trump’s request after Kise and Trump failed to agree to avoid personal attacks in the proposed closing statement. However, the judge later granted Trump permission to speak for up to five minutes. Trump wasted no time and immediately began expressing his belief that he is an innocent man and that the lawsuit against him is a fraud. He insisted that he should be compensated for the ordeal he has endured.
During his address to the court, Trump dismissed the allegations, stating, “This is not consumer fraud. This is no fraud. It is a fraud on me.” Despite the judge’s admonition to focus on the facts of the case, Trump couldn’t resist including some insults directed at the judge and Attorney General James. This prompted Engoron to warn Kise to “please control your client.”
The New York Attorney General’s Office argued in its closing statement that Trump’s financial statements had been falsely inflated by over a billion dollars for each year between 2011 and 2021. They contended that the key question to be answered is whether the defendants acted with intent when manipulating their financial statements as part of a conspiracy. They asserted that the answer is a resounding yes.
The trial also highlighted instances of alleged intentional fraud, such as Trump valuing his Mar-a-Lago estate as a private residence despite an agreement limiting its use to a social club. Trump also claimed his Trump Tower triplex apartment was triple its actual size and value. Andrew Amer, a lawyer from the Attorney General’s Office, argued that these actions exhibited an intent to defraud.
Throughout the trial, Trump’s defense claimed that the financial statements had been prepared by trusted accountants and had no impact on the favorable interest rates Trump received from banks. They argued that the case lacked evidence and praised Trump as a business success. The defense also pointed out that the two Trump employees most accountable for the financial statements, Allen Weisselberg and Jeff McConney, were not accountants and relied on external guidance.
The judge’s verdict in this trial could have substantial implications for Trump’s business. This case is just one of several legal challenges the former president is facing, including the prospect of multiple criminal trials this year and a defamation suit brought by writer E. Jean Carroll. Trump has consistently denied any wrongdoing and contested the case, labeling it as “election interference at the highest level.”
Attorney General James filed the $250 million lawsuit against Trump, the Trump Organization, and top executives, accusing them of fraudulently inflating the value of assets and properties over a decade. The judge, prior to the trial, had already ruled that Trump and his executives had engaged in persistent fraud, leaving intent to defraud as one of the remaining key issues to be determined.
The trial concluded in mid-December, and Judge Engoron expects to deliver his ruling by the end of the month. The outcome will undoubtedly impact Trump’s business and have far-reaching consequences.