(NEW YORK) — Former President Donald Trump goes on trial in New York Monday in a $250 million lawsuit that could alter the personal fortune and real estate empire that helped propel Trump to the White House.
Trump has signaled his intention to attend the first days of the trial, in which he, his sons Eric and Don Jr., and Trump Organization executives are accused by New York Attorney General Letitia James of engaging in a decade-long scheme in which they used “numerous acts of fraud and misrepresentation” to inflate Trump’s net worth while lowering his tax burden.
Trump has denied all wrongdoing and his attorneys have described him as a “master of finding value where others do not,” arguing that Trump’s alleged inflated valuations were a product of his business skill.
Here’s how the news is developing. All times Eastern:
Oct 02, 7:10 AM EDT
Judge has already found that Trump overvalued his assets
Though Trump has denied all wrongdoing alleged by the attorney general, Judge Arthur Engoron has already decided the central allegation against Trump and his co-defendants, ruling in a pretrial hearing last week that the AG had provided “conclusive evidence” that Trump overvalued his assets between $812 million and $2.2 billion.
The judge then canceled the Trump Organization’s business certificates in New York, severely restricting Trump’s ability to conduct business in the state moving forward — a move that Trump attorney Alina Habba called “nonsensical” and “outrageously overreaching.”
“In defendants’ world: rent regulated apartments are worth the same as unregulated apartments; restricted land is worth the same as unrestricted land; restrictions can evaporate into thin air,” Engoron wrote, citing multiple arguments made by defense to justify the allegedly inflated valuations of Trump’s assets. “That is a fantasy world, not the real world.”
Among the issues still to be determined at trial: What additional penalties Trump might face, and what might happen with the multiple causes of action included in the attorney general’s suit.
Oct 02, 6:43 AM EDT
Trump blasts judge ahead of trial
Former President Donald Trump stepped up his attacks on the judge overseeing and deciding his case, writing on Truth Social overnight that Justice Arthur Engoron should resign and be sanctioned for “abuse of power.”
Similar to his earlier post, Trump focused on the alleged inflated value of Mar-a-Lago, in addition to an appellate decision that his lawyers unsuccessfully tried to use to limit the timeframe of the case.
Oct 02, 6:39 AM EDT
Trump says he will attend trial’s opening
Former President Trump posted on his Truth Social platform Sunday night that he intends to attend the opening of the trial.
“See you in court — Monday morning,” he wrote in a post.
Earlier Sunday, multiple sources familiar with the decision told ABC News that Trump was expecting to attend.
Trump will have no speaking role in court on Monday, but it is anticipated that he’ll return to the courthouse toward the end of the state’s case when court records show he will be called as a witness.
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