Trump's civil fraud trial begins today. Here's what to know
From CNN's Lauren del Valle and Kara Scannell
Former President Donald Trump arrives for a rally in Maquoketa, Iowa, on September 20. Scott Olson/Getty Images
Former President Donald Trump will be in attendance Monday in a New York courtroom for the start of the civil fraud trial against him, his eldest sons, their companies and Trump Organization executives.
Opening statements in the civil trial over inflated assets in fraudulent financial statements come less than a week after a shocking ruling by Judge Arthur Engoron that found Trump and his co-defendants are liable for “persistent and repeated” fraud.
The ruling was a significant victory for New York Attorney General Letitia James, who brought the $250 million lawsuit last September alleging 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.
Trump inflated his net worth by as much as $3.6 billion in three separate years between 2011 and 2021, according to the attorney general’s office. Attorneys for Trump have refuted the claims, arguing that asset valuations are highly subjective and that they are still sorting through what the ruling means for the company’s future.
What's at stake at trial: Trump and his companies could be forced to pay hefty sums in damages for the profits they've allegedly garnered through their fraudulent business practices.
Engoron will consider just how much the Trumps and their businesses will have to pay.
The judge is expected to consider claims of business records fraud and insurance fraud alleged in the lawsuit in connection to high-profile properties, though he already determined some broad level of fraud was perpetuated.
The six causes of action are 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.
James' lawsuit also asks the court to consider banning the Trumps from serving as officers of a business in New York and to stop the company from engaging in business transactions for five years.
Trump says he will attend his civil fraud trial in New York
From CNN's Alayna Treene and Kristen Holmes
Former President Donald Trump arrives at Trump Tower in New York on Sunday evening. James Devaney/GC Images/Getty Images
Former President Donald Trump said he will go to court in New York for his civil fraud trial on Monday.
“I’m going to Court tomorrow morning to fight for my name and reputation,” he posted on Truth Social Sunday evening.
Trump had been expected to attend, and law enforcement and court employees had already been making security preparations for his potential appearance at the courthouse in Lower Manhattan on Monday and possibly Tuesday.
Trump’s plans started to become clear after a federal judge in Florida granted his request to postpone a deposition in a separate case because it would conflict with the start of the New York trial.
The civil fraud case – brought in September 2022 by New York Attorney General Letitia James against Trump, his eldest sons, their companies and several executives – will begin at 10 a.m. Monday.
Remember: Last week, the judge overseeing the case dealt Trump a major blow in ruling that the former president is liable for fraud and that he overvalued his properties on his financial statements for a decade.
The ruling came in response to the lawsuit by James, who is seeking $250 million in damages, a ban on the Trumps from serving as officers of a business in New York, and a ban on the company from engaging in business transactions for five years.
2 min ago
Trump fraud trial in New York will start today after appeals court ruling
From CNN's Lauren del Valle and Kara Scannell
Trump Tower is seen in New York in the early morning hours of Monday. Laura Oliverio/CNN
The trial in the New York attorney general's civil fraud lawsuit against Donald Trump, his eldest sons, their companies and several executives, is set to begin Monday after a state appellate court denied Trump's motion to stay the trial last week.
The trial comes in the wake of state Supreme Court Judge Arthur Engoron's ruling Tuesday that Trump and his co-defendants are liable for fraud for grossly inflating asset valuations on financial statements. The judge will decide how much money the Trumps would pay the state.
New York Attorney General Letitia James has alleged that Trump, three of his children, his companies and his business executives defrauded lenders, insurers and other entities.
The judge has set aside nearly three months for the trial.
2 min ago
Judge finds Trump and his sons liable for fraud ahead of civil trial
From CNN's Kara Scannell and Lauren del Valle
Judge Arthur Engoron poses for a picture in his courtroom in New York on September 28. Seth Wenig/AP
A New York judge found Donald Trump and his adult sons liable for fraud and canceled the Trump Organization’s business certification last week.
The ruling came in response to the lawsuit by New York Attorney General Letitia James — a case that is set to go to trial on Monday on the amount of damages owed.
James has alleged that Trump, three of his children, his companies and his business executives defrauded lenders, insurers and other entities. The state is seeking $250 million in damages, a ban on the Trumps from serving as officers of a business in New York and to stop the company from engaging in business transactions for five years.
Judge Arthur Engoron’s ruling is a complete rejection of Trump’s arguments that he didn’t inflate the values of his golf courses, hotels, homes at Mar-a-Lago and Seven Springs on financial statements.
Among other things, Trump is accused of inflating the value of his triplex apartment at Trump Tower by three times its size, resulting in an overvaluation of between $114 million to $207 million, Engoron wrote.
New York Attorney General Letitia James speaks during a press conference on September 21 in New York. Yuki Iwamura/AFP via Getty Images
The judge canceled the business certifications of the Trump entities that are defendants in the case, including the Trump Organization — a major blow to the business that has been so synonymous with the former president’s personal brand.
A receiver will be put in place to “manage the dissolution” of the corporate entities. There are two New York properties that are part of the lawsuit, the commercial tower at 40 Wall Street and the Trump family compound at Seven Springs.
Questions remain as to how the receiver would dissolve the properties, if the ruling would impact properties located outside of New York state, including Mar-a-Lago, and if the Trumps could transfer the New York-based assets into a new company located out of state.
Last week, a state Supreme Court judge found Trump and his co-defendants liable for fraud for grossly inflating asset valuations on financial statements. The trial will determine the amount of damages owed.
The former president, his adult children, and his closest business advisers are listed as potential witnesses.
Increased security has been put in place ahead of the trial, the New York State Unified Court System said. The proceedings are expected to last through December.
Former President Donald Trump arrives for a rally in Maquoketa, Iowa, on September 20. Scott Olson/Getty Images
Former President Donald Trump will be in attendance Monday in a New York courtroom for the start of the civil fraud trial against him, his eldest sons, their companies and Trump Organization executives.
Opening statements in the civil trial over inflated assets in fraudulent financial statements come less than a week after a shocking ruling by Judge Arthur Engoron that found Trump and his co-defendants are liable for “persistent and repeated” fraud.
The ruling was a significant victory for New York Attorney General Letitia James, who brought the $250 million lawsuit last September alleging 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.
Trump inflated his net worth by as much as $3.6 billion in three separate years between 2011 and 2021, according to the attorney general’s office. Attorneys for Trump have refuted the claims, arguing that asset valuations are highly subjective and that they are still sorting through what the ruling means for the company’s future.
What's at stake at trial: Trump and his companies could be forced to pay hefty sums in damages for the profits they've allegedly garnered through their fraudulent business practices.
Engoron will consider just how much the Trumps and their businesses will have to pay.
The judge is expected to consider claims of business records fraud and insurance fraud alleged in the lawsuit in connection to high-profile properties, though he already determined some broad level of fraud was perpetuated.
The six causes of action are 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.
James' lawsuit also asks the court to consider banning the Trumps from serving as officers of a business in New York and to stop the company from engaging in business transactions for five years.
Former President Donald Trump arrives at Trump Tower in New York on Sunday evening. James Devaney/GC Images/Getty Images
Former President Donald Trump said he will go to court in New York for his civil fraud trial on Monday.
“I’m going to Court tomorrow morning to fight for my name and reputation,” he posted on Truth Social Sunday evening.
Trump had been expected to attend, and law enforcement and court employees had already been making security preparations for his potential appearance at the courthouse in Lower Manhattan on Monday and possibly Tuesday.
Trump’s plans started to become clear after a federal judge in Florida granted his request to postpone a deposition in a separate case because it would conflict with the start of the New York trial.
The civil fraud case – brought in September 2022 by New York Attorney General Letitia James against Trump, his eldest sons, their companies and several executives – will begin at 10 a.m. Monday.
Remember: Last week, the judge overseeing the case dealt Trump a major blow in ruling that the former president is liable for fraud and that he overvalued his properties on his financial statements for a decade.
The ruling came in response to the lawsuit by James, who is seeking $250 million in damages, a ban on the Trumps from serving as officers of a business in New York, and a ban on the company from engaging in business transactions for five years.
Trump Tower is seen in New York in the early morning hours of Monday. Laura Oliverio/CNN
The trial in the New York attorney general's civil fraud lawsuit against Donald Trump, his eldest sons, their companies and several executives, is set to begin Monday after a state appellate court denied Trump's motion to stay the trial last week.
The trial comes in the wake of state Supreme Court Judge Arthur Engoron's ruling Tuesday that Trump and his co-defendants are liable for fraud for grossly inflating asset valuations on financial statements. The judge will decide how much money the Trumps would pay the state.
New York Attorney General Letitia James has alleged that Trump, three of his children, his companies and his business executives defrauded lenders, insurers and other entities.
The judge has set aside nearly three months for the trial.
Judge Arthur Engoron poses for a picture in his courtroom in New York on September 28. Seth Wenig/AP
A New York judge found Donald Trump and his adult sons liable for fraud and canceled the Trump Organization’s business certification last week.
The ruling came in response to the lawsuit by New York Attorney General Letitia James — a case that is set to go to trial on Monday on the amount of damages owed.
James has alleged that Trump, three of his children, his companies and his business executives defrauded lenders, insurers and other entities. The state is seeking $250 million in damages, a ban on the Trumps from serving as officers of a business in New York and to stop the company from engaging in business transactions for five years.
Judge Arthur Engoron’s ruling is a complete rejection of Trump’s arguments that he didn’t inflate the values of his golf courses, hotels, homes at Mar-a-Lago and Seven Springs on financial statements.
Among other things, Trump is accused of inflating the value of his triplex apartment at Trump Tower by three times its size, resulting in an overvaluation of between $114 million to $207 million, Engoron wrote.
New York Attorney General Letitia James speaks during a press conference on September 21 in New York. Yuki Iwamura/AFP via Getty Images
The judge canceled the business certifications of the Trump entities that are defendants in the case, including the Trump Organization — a major blow to the business that has been so synonymous with the former president’s personal brand.
A receiver will be put in place to “manage the dissolution” of the corporate entities. There are two New York properties that are part of the lawsuit, the commercial tower at 40 Wall Street and the Trump family compound at Seven Springs.
Questions remain as to how the receiver would dissolve the properties, if the ruling would impact properties located outside of New York state, including Mar-a-Lago, and if the Trumps could transfer the New York-based assets into a new company located out of state.
