Trump to testify in civil fraud trial today as business empire lies at stake

Former US President Donald Trump is expected to take the stand on Monday to testify in the civil fraud trial a case that could well decide the fate of his business empire in New York CNN reported The trial brought by New York Attorney General Letitia James is seeking USD 250 million in damages and barring the former president from doing business in the stateJames alleges that Trump and his codefendants committed repeated fraud in inflating assets on financial statements to get better terms on commercial real estate loans and insurance policies as per CNN While there are no criminal charges involved the allegations have enraged the former president who has attended the trial for multiple days and called it a political witch huntBefore the trial began last month Judge Arthur Engoron already ruled that Donald Trump and his codefendants including his adult sons were liable for persistent and repeated fraud Now the judge is considering how much the Trumps will have to pay in damages for the profits theyve allegedly garnered through fraudulent business practicesThe attorney generals office is also looking to prove six other claims falsifying business records conspiracy to falsify business records issuing false financial statements conspiracy to falsify false financial statements insurance fraud and conspiracy to commit insurance fraud CNN reported On the other hand Trump has relentlessly attacked James for bringing the case against him Hes attacked the judge for being biased against him and has also attacked the judges law clerk for being biasedAlso Trumps conduct at the trial has been a flashpoint as the former President has already been fined twice for violating a gag order barring him from speaking about the judges staff According to CNN the civil case is important to Trump because it strikes at the heart of his persona as a billionaire real estate tycoon Notably the New York attorney general is accusing the former president of inflating his net worth to save hundreds of millions of dollarsThe case also has real consequences for the Trump Organization as James is seeking to bar Trump from doing business in the state and to dissolve his companies The attorney general has accused Trump his two adult sons the Trump Organization and several company executives of inflating Trumps net worth by as much as USD 36 billion to obtain better terms on commercial real estate loans and insurance policies An expert witness for the attorney general testifying last week alleged the illgotten gains totalled USD 168 million CNN reportedHowever Trumps lawyers have disputed the allegations arguing that asset valuations are highly subjective They have also attacked the proceedings in Engorons courtroom as biased against the former president signalling a plan to appeal Earlier last week Eric Trump and Donald Trump Jr testified distancing themselves from the preparation of the presidents annual statements of financial condition in which the values of Trumps properties are alleged to have been inflatedAccording to CNN Cohen testified that Trump directed him and Allen Weisselberg the Trump Organizations former chief financial officer to inflate the property values though he then contradicted himself and said that Trump had not specifically told him to do so but it was implied what he should do On the other hand Weisselberg testified that the meeting never happenedWhile Trump has claimed that Cohens contradictions clear him Engoron absolutely denied a motion from Trumps attorneys to dismiss the case saying there was still a pile of evidence beyond Cohen CNN reportedThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever