Trump to testify in New York civil case threatening his business empire

Former President Donald Trump is scheduled to testify on Monday in a New York civil case that poses a significant threat to his real estate business and financial standing.

NEW YORK – Former President Donald Trump is scheduled to testify on Monday in a New York civil case that poses a significant threat to his real estate business and financial standing.

The case, which is unfolding in New York, could have implications for his political ambitions to reclaim the White House in 2024.

Trump, a 77-year-old Republican, will take the witness stand at 10:00 am, sitting alongside Judge Arthur Engoron, who oversees the case.

Engoron has been a target of Trump’s criticism in the past, with the former president referring to him as “unhinged” and a “Trump-hating radical left Democrat operative.”

The judge imposed fines of $5,000 and $10,000 on Trump for violating a partial gag order after he criticized the judge’s clerk on social media.

The case, brought by New York Attorney General Letitia James, alleges that the Trump Organization inflated the value of its assets by billions of dollars to secure more favorable bank loans and insurance terms.

During his testimony, Trump is expected to follow a defense strategy similar to that of his sons, Don Jr. and Eric, who testified last week.

They argued that accountants were primarily responsible for verifying the accuracy of the company’s financial statements.

Trump has already provided testimony twice in connection with this case, both times behind closed doors.

In his first deposition, he called the proceedings “the greatest witch hunt in the history of our country” and criticized the Democratic attorney general as an “out of control prosecutor.”

In the second deposition, he argued that the case was “crazy” because “banks were all paid” and “made a lot of money” from his business.

Trump and his sons may not face jail time but could incur penalties of up to $250 million and potential removal from the management of the family company.

New York civil case President Donald Trump listens during an event on Operation Warp Speed in the Rose Garden of the White House, Friday, Nov. 13, 2020, in Washington.
FILE PHOTO: President Donald Trump listens during an event on Operation Warp Speed in the Rose Garden of the White House, Friday, Nov. 13, 2020, in Washington. (AP Photo/ Evan Vucci)

Prior to the trial, Judge Engoron ruled that James’ office had already presented “conclusive evidence” showing that Trump had overstated his net worth on financial documents by a significant margin between 2014 and 2021.

The judge ordered the liquidation of the companies managing the assets in question, including Trump Tower, the 40 Wall Street skyscraper, and the Seven Springs private estate.

This order is currently pending appeal, highlighting the significant risks for the former president.

While not a co-defendant, Trump’s daughter, Ivanka Trump, has also been ordered to testify in the case, with her testimony anticipated as early as Wednesday.

Despite his sporadic appearances during the trial, Trump has used the proceedings to portray himself as a victim of a Democratic plot to sabotage his White House campaign.

The civil fraud trial is one of several legal challenges Trump is facing as he attempts to return to the presidency.

In March, he is expected to face a federal trial in Washington on charges of conspiring to overturn the results of the 2020 election, which he lost to President Joe Biden.

Thus far, the legal controversies surrounding him have not significantly impacted his popularity in polls.

The trial continues to garner significant media attention and could have lasting implications for both Trump’s business empire and his political future.

RosGwen24 News
RosGwen24 News
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