Donald Trump returns to civil fraud trial, witness Michael Cohen absent

Updated On: 17 October, 2023 11:01 PM IST | Sanjana Deshpande

Former President Donald Trump has made a comeback to a civil fraud trial in New York City that could have significant implications for his real estate business. Trump had previously attended the trial`s initial three days from October 2 to 4. Pics/AFP

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Former President Donald Trump has made a comeback to a civil fraud trial in New York City that could have significant implications for his real estate business. Trump had previously attended the trial`s initial three days from October 2 to 4. Pics/AFP

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This week`s court appearance was originally set to coincide with testimony from Michael Cohen, Trump`s attorney-turned-antagonist. However, Cohen`s testimony on the witness stand has been postponed until at least next week.

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The lawsuit, brought by New York Attorney General Letitia James, alleges that Trump and his company engaged in deceptive practices, overinflating the value of assets and exaggerating Trump`s net worth in financial documents used for deals and financing.

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Trump firmly denies any wrongdoing, asserts that his assets were undervalued, and maintains that disclaimers in the financial statements essentially directed banks and others to verify the numbers themselves.

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The investigation against Trump commenced in 2019 after Michael Cohen testified before Congress, stating that the former president had a history of misrepresenting asset values to secure favourable loan terms and tax benefits.

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In place of Cohen`s testimony, Trump`s appearance in court is expected to coincide with the resumption of testimony from his company`s assistant controller, Donna Kidder. The state attorneys also plan to call Jack Weisselberg, son of the former Trump Organization finance chief, Allen Weisselberg. Jack Weisselberg played a role in arranging financing for Trump during his tenure at Ladder Capital.

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In a pretrial decision last month, Judge Engoron ruled on the primary claim in the lawsuit, concluding that Trump and his company had committed years of fraud by inflating the value of assets and net worth in financial statements.

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The trial now centres around the remaining six claims in the lawsuit, including allegations of conspiracy, insurance fraud, and falsifying business records. The outcome of the trial could have far-reaching consequences for Trump and his real estate business empire.

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Home / News / World News / Photos / Donald Trump returns to civil fraud trial, witness Michael Cohen absent

Donald Trump returns to civil fraud trial, witness Michael Cohen absent

Former President Donald Trump has made a comeback to a civil fraud trial in New York City that could have significant implications for his real estate business. Trump had previously attended the trial`s initial three days from October 2 to 4. Pics/AFP

This week`s court appearance was originally set to coincide with testimony from Michael Cohen, Trump`s attorney-turned-antagonist. However, Cohen`s testimony on the witness stand has been postponed until at least next week.

The lawsuit, brought by New York Attorney General Letitia James, alleges that Trump and his company engaged in deceptive practices, overinflating the value of assets and exaggerating Trump`s net worth in financial documents used for deals and financing.

Trump firmly denies any wrongdoing, asserts that his assets were undervalued, and maintains that disclaimers in the financial statements essentially directed banks and others to verify the numbers themselves.

The investigation against Trump commenced in 2019 after Michael Cohen testified before Congress, stating that the former president had a history of misrepresenting asset values to secure favourable loan terms and tax benefits.

In a pretrial decision last month, Judge Engoron ruled on the primary claim in the lawsuit, concluding that Trump and his company had committed years of fraud by inflating the value of assets and net worth in financial statements.

The trial now centres around the remaining six claims in the lawsuit, including allegations of conspiracy, insurance fraud, and falsifying business records. The outcome of the trial could have far-reaching consequences for Trump and his real estate business empire.

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Bliss by the beach