Former President Trump is preparing to face both civil and criminal trials. The civil trial, which is set to begin on October 2nd in New York, will be the first legal battle he faces. However, State Attorney General Letitia James believes that a trial may not be necessary for her main claim against Trump. In a court filing, James argues that Trump and his co-defendants, including three of his children, unlawfully manipulated financial statements in order to secure loans, obtain insurance benefits, and lower taxes. James goes on to claim that Trump fraudulently inflated his net worth by as much as $2.2 billion annually between 2011 and 2021, an increase of up to 39%.
In her filing, James states, “Based on the undisputed evidence, no trial is required for the court to determine that defendants presented grossly and materially inflated asset values.” This assertion is part of her request for a partial summary judgment on the fraudulent financial statements. If she is successful, it would be a significant victory for James and could strengthen her case for the remaining claims. Trump’s lawyers have also filed a motion requesting a summary judgment based on a recent appellate court decision that could limit the scope of the case by excluding loans secured prior to 2014. They argue against fraud by pointing out that Trump’s lenders profited from the loans and did not complain about his financial statements.
Judge Arthur F. Engoron has scheduled a hearing for September 22nd, where he will consider these motions and make a ruling. The options on the table are ruling in favor of either party or denying both motions, which would lead to the trial proceeding as planned.
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