Donald Trump “arbitrarily” inflated the value of his real estate assets in order to secure favorable insurance premiums, Trump’s former lawyer and fixer Michael Cohen testified at the former president’s civil fraud trial on Tuesday (October 24).
Trump has denied wrongdoing and defended the valuations of his properties, saying the case is a “fraud” and a political witch hunt.
He has occasionally appeared in court over the past month, complaining in inflammatory remarks to reporters that it is a distraction from his campaign.
He arrived on Monday following a campaign stop in New Hampshire and just days after being fined $5,000 by Justice Arthur Engoron, the judge overseeing the case, for violating a gag order.
In September before the trial began, Engoron found that Trump fraudulently inflated his net worth and ordered the dissolution of companies that control crown jewels of his real estate portfolio, including Trump Tower in Manhattan. That ruling is on hold while Trump appeals.
The trial largely concerns damages. James is seeking at least $250 million in fines, a permanent ban against Trump and his sons Donald Jr and Eric from running businesses in New York and a five-year commercial real estate ban against Trump and the Trump Organization.
James’ civil suit is one of many legal woes Trump faces as he campaigns for the presidency. He has pleaded not guilty to four criminal indictments, including federal cases tied to efforts to overturn the results of the 2020 election and the removal of government documents from the White House.
Read more at https://nypost.com/2023/10/24/news/trump-fraud-trial-live-updates-from-nyc-courtroom/
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