By Jerald Jimenez
02 Oct 2023, 08:10 AM EDT
Former President Donald Trump arrived in New York on Sunday night, hours before the start of the civil fraud trial against him and his company, the Trump Organization, which is promoted by New York Attorney General Letitia James, who claims $250 million for allegedly inflating the value of his properties and businesses that helped him obtain loans and tax benefits.
The Republican was seen entering Trump Tower, one of the assets he could be forced to give up if he loses the case, around 8:00 p.m. ET after making his 2024 presidential campaign in Iowa.
On his social media platform Truth Social, Trump lashed out at prosecutor James and Judge Arthur Engoron, who will preside over the trial, accusing them of being “corrupt,” “racist” and “unhinged” in their “hunt” against him, New reported. York Post.
The trial is expected to last about three months, and will begin at 10 a.m. with opening statements from both sides. Trump and his children, Donald Jr., Ivanka and Eric, as well as his former lawyer Michael Cohen, are listed as possible witnesses.
James has claimed that Trump and his company repeatedly lied and overvalued their assets in financial statements in order to secure large loans and do business. According to the prosecutor, Trump increased his wealth to $3.6 billion dollars.
According to James, one of the most striking examples is the three-story penthouse in Trump Tower, adding that the former president stated that the apartment had almost three times more surface area than it actually has and that it was valued at $327 million dollars.
Judge Engoron already ruled that Trump carried out a years-long fraud scheme by lying in company documents by inflating the value of his assets, which was the main claim of the lawsuit before the trial began.
The ruling revoked Trump’s business licenses in the Big Apple, potentially forcing Trump to hand over his New York properties, including Trump Tower.
In response, Trump denied any wrongdoing and said his financial statements have a disclaimer that frees him from any potential errors. Furthermore, he described these sanctions as “a corporate death penalty” and has denounced political persecution.
Engoron is expected to rule on six remaining claims in James’ lawsuit after the trial.