Donald Trump Appears in Court Again, Highlights Defense Testimony Rejecting Accounting Fraud Claims

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Ex-President Donald Trump attended his ongoing civil fraud trial on Thursday, underscoring his defense team’s stance. He reiterated his belief that the allegations are unfounded and expressed admiration for the testimony of Eli Bartov, a New York University accounting professor, who supported his position.

As the trial nears its conclusion after over two months, Trump, a leading contender for the Republican nomination in the 2024 presidential race, was present to observe Bartov’s testimony.

Bartov challenged the central argument of the lawsuit filed by New York State Attorney General Letitia James, which asserts that Trump’s financial statements contained fraudulently exaggerated values of key assets, including his Trump Tower penthouse and Mar-a-Lago club in Florida.

Bartov, engaged by Trump’s legal team for expert analysis, asserted, “There is absolutely no evidence of any accounting fraud.” He maintained that Trump’s financial disclosures were not significantly erroneous.

Trump’s defense strategy in the civil fraud trial has been focusing on specific properties like Mar-a-Lago, with experts describing its exceptional appeal. The trial also saw the reinstatement of a gag order on Trump and featured testimony from a banker involved in substantial loans to Trump’s business.

Bartov suggested that anomalies, such as a significant increase in the estimated value of Trump’s properties, were likely errors rather than deliberate misrepresentations.

Trump, amidst his presidential campaign and facing multiple criminal cases, has been actively involved in this New York trial. He has appeared as an observer, a combative witness, and has frequently criticized the proceedings publicly.

His presence was notable during the early stages of the trial, including a day on the witness stand. His appearance on Thursday was his first since the defense began presenting its case, with another testimony scheduled for the following Monday.

Trump observed attentively, engaging with his lawyers and visibly reacting to objections raised during Bartov’s testimony. In breaks, he commended the witness and condemned the lawsuit, which scrutinizes his net worth and could potentially disrupt his real estate ventures.

Exiting the courthouse, Trump labeled the trial a “witch hunt,” an “election interference,” and “a disgrace to America,” insisting that the case should never have been initiated.

James’ lawsuit alleges that Trump, his company, and top executives, including his sons Eric and Donald Trump Jr., misled banks and insurers by providing inflated financial statements to secure favorable deals and loans.

Trump has consistently denied any misconduct, arguing that the figures in the statements understated his actual wealth. He downplayed their significance in deal-making, suggesting that lenders and others should conduct their own evaluations. He further accuses James and Judge Arthur Engoron, both Democrats, of political bias.

During his testimony, Bartov argued that financial statements serve as preliminary references for lenders and that valuations in these documents are inherently subjective. He contended that discrepancies in valuation do not necessarily indicate fraud.

Bartov described Trump’s financial statements as unusually detailed and transparent, including notes that, in his opinion, were clear enough for even a child to understand. Deutsche Bank, a significant lender to Trump, has testified to adjusting clients’ reported figures. However, questions arose about the reliability of Trump’s reported values during the trial.

The state’s lawyer, Kevin Wallace, criticized Bartov’s views on Deutsche Bank’s practices, arguing they were outside his area of expertise. Bartov, however, insisted on his truthfulness despite Wallace’s objections.

Trump has been actively discussing the case on his social media platform, Truth Social. His court appearances provide him additional platforms to express his views, often engaging with the media outside the courtroom.

Recently, Trump faced a $10,000 fine for violating a gag order prohibiting public comments about court staff. His legal team is appealing this order.

James’ office, countering Trump’s assertions, stated on X (formerly Twitter), “Donald Trump has committed years of financial fraud. Breaking the law has consequences.”

While James did not attend court on Thursday, she has been a frequent presence during Trump’s appearances.

The trial, which is without a jury, explores accusations of conspiracy, insurance fraud, and falsifying business records. Engoron previously ruled that Trump and other defendants committed fraud, leading to a temporary order for a receiver to oversee some of Trump’s assets. This order is currently on hold pending appeal.

James seeks over $300 million in penalties and aims to bar Trump and other defendants from business activities in New York.

The trial is expected to conclude by Christmas, with closing arguments in January. A decision by Engoron is anticipated by the end of January.

Joseph Frederick, a journalist from Big Big News, contributed to this report.

Frequently Asked Questions (FAQs) about Trump fraud trial

More about Trump fraud trial

• New York State Attorney General’s Office
• Donald Trump’s Civil Fraud Trial Overview
• Analysis of Letitia James’ Lawsuit Against Trump
• Profile of Accounting Professor Eli Bartov
• Deutsche Bank’s Involvement in Trump Trials
• Details on Penalties and Business Prohibitions in Fraud Cases
• Trump’s Statements on Truth Social Platform
• Legal Implications of Financial Misrepresentation in Business