Prosecutor describes Trump's method of defrauding banks

Judge Arthur Engoron's room is illustrated with murals of court scenes.

Oliver Thansan
Oliver Thansan
02 October 2023 Monday 11:37
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Prosecutor describes Trump's method of defrauding banks

Judge Arthur Engoron's room is illustrated with murals of court scenes. They refer to the transfer in 1664 of the province of New Amsterdam (today Lower Manhattan, where the court is located) from Dutch to English ownership.

It feels like a deal on good terms. The opposite was observed yesterday in the behavior of Donald Trump. Aside from his insults, his facial expression was a statement of his anger. As he entered and sat in the dais area, he avoided looking at Letitia James, one of his nightmares as New York State Attorney General.

James led the investigations that have led to this civil trial. He accuses Trump of continuing to defraud the banks by inflating their holdings. "While it may be one thing to exaggerate for Forbes magazine, it is not allowed when doing business in the state of New York," said Kevin Wallace, a prosecutor in James' office, in his arguments opening

He stated that the business procedure was full of "lies after lies". The company used a scheme of "persistent illegal acts" that were decided by Trump himself. In the cause are also his children Donald jr. and Eric, who accompanied his father, and a couple of employees.

Wallace pointed out that they inflated their reports by a figure ranging from $812 million to $2.2 billion knowing they were false statements. The state demands a 250 million fine and that the company lose its license to operate in New York.

This is the first of the trials that await him in the coming months. He is charged with 91 charges, some as serious as conspiring to overturn the 2020 election result. But this suit, which unlike the others does not involve jail time, is a key issue for Trump. He attacks the foundation of the myth that he is a great businessman. In this investigation, the Prosecutor's Office dispels this myth.

"I came because I wanted to see this witch hunt for myself," Trump said outside the room. He had no obligation to attend. But he is a showman. He took the opportunity to attack James, an African-American whom he accuses of being racist. Once again he spoke of electoral interference to slow down his campaign in the 2024 elections. And he charged the judge, whom he described as an "agent" of the Democrats and whom "some suggest should be impeached for what does".

In a non-jury case, the ruling rests with Judge Engoron, who last week ruled there was fraud and, pending an appeal, took Trump's control of his flagship buildings, including the tower with his last name on Fifth Avenue in Manhattan.

Chris Kise, his lawyer, replied that there is no fraud, that the valuations are subjective – as with the Mona Lisa, pointed out one of his collaborators – and Trump paid. "There are no victims," ​​added Kise.

"No one is above the law", James emphasized before the start of the session. As the morning session concluded, Trump walked by and looked at her. Her son Eric greeted her and shook her hand.