By Dan Berman, Piper Hudspeth Blackburn and Mike Hayes, CNN
Updated 8:09 a.m. ET, November 6, 2023
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1 min ago
Trump is expected to be pressed on his properties
From CNN's Jeremy Herb
Much of the questioning of Donald Trump on Monday is expected to involve the properties that are the backbone of his business, including the 40 Wall Street building in New York, Trump National Doral Miami golf course and resort, Trump International Hotel & Tower in Chicago, and the Old Post Office project in Washington, DC. The attorney general has also alleged Trump inflated the value of his triplex apartment in Trump Tower.
And perhaps most importantly: The tax status and value of Trump’s Mar-a-Lago resort in Florida are at issue in the case.
Trump has repeatedly pointed to a line in the judge’s September ruling that Mar-a-Lago was worth $18 million to argue the decision was fatally flawed.
In court, Trump’s attorney Alina Habba claimed that Mar-a-Lago would sell for at least $1 billion. “The value is what someone is willing to pay. The Trump properties are Mona Lisa properties,” Habba said.
The $18 million valuation, based on a tax assessor’s appraisal, has been questioned by real estate insiders. Engoron said in court he was not valuing the property in his decision.
But the Mar-a-Lago valuation is just one of the instances in which Trump is likely to push back against claims that the values of his properties were inflated.
14 min ago
What to watch when Donald Trump takes the stand today
From CNN's Jeremy Herb
Former President Donald Trump will take the stand Monday to give high-stakes testimony that could help decide the fate of his business empire in New York.
Trump is testifying in the civil fraud trial brought by New York Attorney General Letitia James, who is seeking $250 million in damages and to bar the former president from doing business in the state. James alleges that Trump and his co-defendants committed repeated fraud in inflating assets on financial statements to get better terms on commercial real estate loans and insurance policies.
While there are no criminal charges involved, the allegations have enraged the former president, who has attended the trial for multiple days and attacked it as a political witch hunt.
Judge Arthur Engoron already ruled before the trial began last month that Trump and his co-defendants, including his adult sons, were liablefor “persistent and repeated” fraud. Now the judge is considering how much the Trumps will have to pay in damages for the profits they’ve allegedly garnered through fraudulent business practices.
The attorney general’s 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.
Trump’s testimony Monday will be the first chance to see how he responds in the face of hostile questioning, a precursor to the four criminal trials he faces next year as he campaigns to regain the presidency.
The trial is not televised, but Trump’s appearance on the witness stand will mark arguably the highest-profile moment of his 2024 presidential campaign – a campaign in which Trump has repeatedly cited his own legal peril as a key reason voters should return him to the White House.
High-stakes testimony: Donald Trump is expected to take the stand Monday to testify in the New York civil fraud trial against him, his company and adult sons. While he's made in-person appearances earlier at the trial, this will be the first time the former president answers questions under oath about the case and fraud allegations.
The lawsuit: The $250 million lawsuit brought by New York Attorney General Letitia James alleges that Trump and his co-defendants committed repeated fraud in inflating assets on financial statements to get better terms on commercial real estate loans and insurance policies. The judge already ruled the former president is liable for fraud and he's considering how much the Trumps will have to pay in damages.
Why it matters: The case is civil, not criminal, but threatens Trump's business in New York. James is seeking to bar Trump from doing business in the state and to dissolve his companies. Trump’s testimony Monday will also serve as a precursor to the four criminal trials he faces next year as he campaigns to regain the presidency.
Much of the questioning of Donald Trump on Monday is expected to involve the properties that are the backbone of his business, including the 40 Wall Street building in New York, Trump National Doral Miami golf course and resort, Trump International Hotel & Tower in Chicago, and the Old Post Office project in Washington, DC. The attorney general has also alleged Trump inflated the value of his triplex apartment in Trump Tower.
And perhaps most importantly: The tax status and value of Trump’s Mar-a-Lago resort in Florida are at issue in the case.
Trump has repeatedly pointed to a line in the judge’s September ruling that Mar-a-Lago was worth $18 million to argue the decision was fatally flawed.
In court, Trump’s attorney Alina Habba claimed that Mar-a-Lago would sell for at least $1 billion. “The value is what someone is willing to pay. The Trump properties are Mona Lisa properties,” Habba said.
The $18 million valuation, based on a tax assessor’s appraisal, has been questioned by real estate insiders. Engoron said in court he was not valuing the property in his decision.
But the Mar-a-Lago valuation is just one of the instances in which Trump is likely to push back against claims that the values of his properties were inflated.
Former President Donald Trump will take the stand Monday to give high-stakes testimony that could help decide the fate of his business empire in New York.
Trump is testifying in the civil fraud trial brought by New York Attorney General Letitia James, who is seeking $250 million in damages and to bar the former president from doing business in the state. James alleges that Trump and his co-defendants committed repeated fraud in inflating assets on financial statements to get better terms on commercial real estate loans and insurance policies.
While there are no criminal charges involved, the allegations have enraged the former president, who has attended the trial for multiple days and attacked it as a political witch hunt.
Judge Arthur Engoron already ruled before the trial began last month that Trump and his co-defendants, including his adult sons, were liablefor “persistent and repeated” fraud. Now the judge is considering how much the Trumps will have to pay in damages for the profits they’ve allegedly garnered through fraudulent business practices.
The attorney general’s 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.
Trump’s testimony Monday will be the first chance to see how he responds in the face of hostile questioning, a precursor to the four criminal trials he faces next year as he campaigns to regain the presidency.
The trial is not televised, but Trump’s appearance on the witness stand will mark arguably the highest-profile moment of his 2024 presidential campaign – a campaign in which Trump has repeatedly cited his own legal peril as a key reason voters should return him to the White House.
