Former President is currently taking the witness stand in a high-stakes financial fraud lawsuit in New York. This lawsuit, brought by New York Attorney General Letitia James, aims to determine the penalties that Trump, his two eldest sons, and their family business must pay for their years of deceptive business practices, which have amounted to a total of $250 million.
New York Financial Fraud: Trump Testifies
The key players in this legal battle include Former President Donald Trump, Judge Arthur Engoron, executive vice presidents of Trump Org., Donald Trump Jr. and Eric Trump, Trump Org. CFO Allen Wisselberg, New York Attorney General Letitia James, and Trump lawyer Christopher Kise.
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During the trial, Trump is asked about the appointment of his sons and Wisselberg as trustees of a trust created for his benefit, according to USA Today.
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Trump speaks highly of his son, Don Jr., describing him as a smart and honorable individual.
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Trump boldly claims that he has undervalued his assets more than any other real estate developer. However, Judge Engoron admonishes Trump, reminding him that the courtroom is not a platform for political grandstanding.
This testimony from Trump is crucial because Judge Engoron has already held the defendants liable for financial fraud. The penalties he imposes based on Trump’s statements could have significant consequences for the future of the Trump family’s business empire in New York.
