The civil fraud trial involving former President Donald Trump in New York is reaching its conclusion, with closing arguments scheduled for Thursday. The New York Attorney General, Letitia James, seeks nearly $370 million in penalties from Trump, accusing him and his associates of inflating the value of his assets to secure favorable loan terms and financial benefits over more than a decade.
Trump, a frontrunner for the 2024 Republican presidential nomination, has consistently denied any wrongdoing, labeling the case a political witch hunt. Despite expressing frustration that the trial interferes with his political campaign, Trump has used court appearances to make inflammatory remarks to the media.
Justice Arthur Engoron, overseeing the trial, denied Trump’s request to deliver his own closing arguments after the former president refused to adhere to ground rules preventing him from delivering a “campaign speech.”
The lawsuit is one of several legal challenges facing Trump as he considers running for president again in 2024. However, these legal issues have not significantly impacted his popularity among supporters.
Judge Engoron, who found Trump liable for fraud in September, will issue a verdict without a jury at a later date, focusing on determining the amount of money Trump should surrender as ill-gotten gains.
Trump has appealed Engoron’s prior order and is expected to appeal any unfavorable verdict, potentially prolonging the resolution of the case for months or even a year.
Throughout the trial, the state’s lawyers aimed to demonstrate that Trump consistently overvalued his assets, including towers and golf clubs, in financial statements before entering politics.
The trial included a face-to-face reunion between Trump and his former lawyer and fixer, Michael Cohen, who testified that Trump directed him to manipulate asset values on financial statements to achieve a desired net worth.
Trump’s adult children, Donald Jr., Eric, and Ivanka Trump, also testified, denying significant involvement in preparing their father’s financial statements. Ivanka Trump is not a defendant in this case.
Apart from the civil trial, Trump faces potential criminal trials in Washington, Georgia, Florida, and New York for various charges, including attempts to overturn the 2020 election, mishandling classified documents, and hush money payments to a porn star. Trump has pleaded not guilty to all charges.
