In a recent civil fraud trial in New York, former President Donald Trump defended his family’s business, clashing repeatedly with the judge over the course of nearly four hours on the witness stand. The trial, which is determining the penalties for fraud already ruled committed by the Trump Organization, saw prosecutors seeking a $250m fine and severe business restrictions.
Former President Donald Trump waits to take the witness stand at New York Supreme Court, Monday, Nov. 6, 2023, in New York. (AP Photo/Eduardo Munoz Alvarez)
During his appearance at a Manhattan federal courthouse, Mr. Trump, 77, was questioned about the value of various properties, including his Florida estate Mar-a-Lago, Trump Tower in New York, and a golf course in Scotland. These properties are among several that prosecutors allege were intentionally overvalued in company statements to secure better loans and insurance policies.
Mr. Trump, who is currently the frontrunner for the 2024 Republican presidential nomination, defended the valuations during his testimony. He stated, “I’m worth billions of dollars more than the financial statements,” and described the property valuations as “very conservative.” He attributed the valuations to his personal brand, which he claimed was never factored into financial statements.
The lawsuit was brought by New York Attorney General Letitia James, who accuses Mr. Trump, along with his sons Eric and Donald Jr and other Trump Organization executives, of deliberately inflating company assets for years. All deny wrongdoing.
The former president’s time on the stand was marked by heated exchanges and lengthy responses, prompting several rebukes from Judge Arthur Engoron. “Please just answer the questions, no speeches,” the judge said. Judge Engoron will ultimately decide the outcome of the trial and could strip the defendants of the ability to do business in New York.
Like his two sons in their testimony last week, the former president said it was the Trump Organization accountants who bore responsibility for the financial reports. “All I did was authorise and give people whatever was necessary for the accountants to do the statement,” Mr. Trump said.
As he left court, he referred to the case as a “fraud” and said he believed his testimony “went very well”. Some legal and political analysts have suggested Mr. Trump’s combative approach on the stand was a considered strategy, while others have said he used the much anticipated moment as an opportunity to campaign.
