This Monday the civil trial for fraud began against Donald Trump, his company The Trump Organization and some of its executives, including the eldest children of the former president. The process began after Trump’s failure to postpone it following the indictment filed in September 2021 by New York Attorney General Letitia James.
The lawsuit, which accuses Trump of engaging in years of financial fraud to obtain economic benefits, represents one of the first links in an impressive chain of legal troubles in a civil and criminal nature, and the state and federal jurisdiction, which currently They are tormenting him. in the middle of an election campaign in which he seeks to return to the White House.
About what the trial against Donald Trump will begin on Monday
The lawsuit alleges that Donald Trump, with the help of his children Donald Trump, Jr., Ivanka Trump and Eric Trump, and senior executives of the Trump Organization, falsely inflated his net worth by billions billion dollars so that the company could get loans on more favorable terms than they would have without the fraud.
According to the lawsuit, the alleged fraudulent activity also induced insurers to provide insurance coverage with higher limits and lower premiums, and helped Trump obtain tax benefits, among others. benefits.
The lawsuit alleges that between 2011 and 2021, Trump and The Trump Organization knowingly and intentionally created more than 200 false and misleading asset valuations in their annual filings to defraud taxpayers. financial institution.
The Prosecutor’s Office seeks to: 1) permanently bar Trump and his adult children from serving as officers or directors of any New York corporation; 2) prohibit Trump and The Trump Organization from making real estate purchases in New York for five years and 3) provide disgorgement of all financial benefits obtained through continued fraud, estimated to amount to $250 million.
Incidents and current status of the New York Prosecutor’s Office civil case against Trump
The civil fraud trial in New York against Trump began on Monday, October 2, the date originally scheduled, after an appeals court lifted a temporary suspension of the start of the trial.
The order, issued Thursday, came hours after James announced that he plans to call Trump and three of his adult children as witnesses in the trial of his lawsuit in Manhattan Supreme Court.
The five-judge panel rejected a request by Trump to stop the trial from starting because it disagreed with the argument that some of the alleged fraudulent actions alleged in the lawsuit fell outside the statute of limitations.
In early September, an appeals judge temporarily stayed the trial to give the appeals court time to decide whether to impose a longer delay while considering Trump’s request to throw out some of the allegations.
The judge relied on a separate appeals court decision in June, which removed Ivanka Trump as a defendant in the case because it ruled that actions against her were time-barred.
On Tuesday, Magistrate Court Judge Arthur Engoron found the defendants liable for fraudulently inflating assets and other assets, stripped the defendants of their business licenses and ordered the appointment of an independent receiver to monitor the dissolution of businesses.
The trial will address the six remaining claims in James’ lawsuit, which seeks about $250 million in damages and a ban on the defendants from doing business in New York state.