After 40 witnesses and 43 days of testimony, here’s what we learned at Trump’s civil fraud trial

14

After 40 witnesses and 43 days of testimony, here’s a summary of what transpired during former President Donald Trump’s civil business fraud trial, presided over by Judge Arthur Engoron:

The trial, which spanned 2½ months, has been a significant legal battle in which New York Attorney General Letitia James accused Trump of inflating his wealth on financial statements to secure loans and make deals. The judge has already ruled that Trump is liable for making fraudulent statements, but other claims and potential penalties remain undecided. Trump has consistently denied any wrongdoing, asserting that the financial documents actually understated his net worth and contained necessary caveats to protect him from liability.

One notable aspect of the trial was Trump’s repeated appearances in court, even though he wasn’t required to attend most of the sessions. Each time he showed up, he turned it into an unofficial campaign event, emphasizing that he was being unfairly targeted. His testimony on November 6 was particularly defiant, prompting Judge Engoron to remind everyone that the courtroom was not a political rally.

A significant focus of the trial was the hundreds of millions of dollars that Deutsche Bank had loaned to Trump’s company starting in 2011. The prosecution argued that Trump manipulated his wealth to secure these loans at favorable interest rates, while the defense contended that the bank was aware of potential inaccuracies and still granted the loans. The trial also shed light on Deutsche Bank’s private wealth management division’s eagerness to lend to Trump, seeing him as a lucrative client who could connect them to wealthy individuals.

Additionally, the trial revealed Trump’s unsuccessful attempt to buy the Buffalo Bills for $1 billion in 2014. Investment bankers involved in the sale expressed doubts about his approval by the NFL due to his past involvement with Atlantic City casinos and the USFL’s antitrust lawsuit against the NFL. Trump claimed a net worth of over $8 billion in his initial offer but never provided financial statements, instead distributing lists of wealthy celebrities from Forbes.

Another intriguing revelation was the valuation of Trump’s Trump Tower triplex penthouse, which was inaccurately reported as 30,000 square feet in financial statements, although its actual size was around 10,996 square feet. Trump attributed this discrepancy to a mistake.

The trial comprises six claims, including conspiracy and insurance fraud, with James seeking penalties exceeding $300 million and Trump potentially facing a ban from conducting business in New York. Both sides have until January 5 to submit written arguments, with summations scheduled for January 11. Judge Engoron hopes to render a decision by the end of January. Meanwhile, Trump’s legal team is preparing to appeal the pretrial fraud ruling, should they lose on the remaining issues.

This trial has provided insights into Trump’s financial dealings, his interactions with lenders, and his political and legal strategies as he navigates multiple legal battles, all while maintaining a strong position in the Republican presidential race for 2024.

Frequently Asked Questions (FAQs) about Trump’s Civil Fraud Trial

More about Trump’s Civil Fraud Trial

• Trump’s Civil Fraud Trial Coverage
• Judge Rules Trump Liable for Fraud
• Deutsche Bank’s Role in Trump’s Trial
• Buffalo Bills Bid and NFL Approval
• Discrepancy in Trump Tower Triplex Valuation
• Potential Outcomes and Penalties in Trump’s Trial
• Trump’s Political Standing Amid the Trial