Former U.S. President Donald Trump disembarks his plane “Trump Force One” at Aberdeen Airport on May 1, 2023 in Aberdeen, Scotland.
Jeff J Mitchell | Getty Images
The $250 million civil fraud trial that could see Donald Trump permanently banned from doing business in New York is set to kick off Monday.
The trial, whose start Trump says he plans to attend, comes a year after New York Attorney General Letitia James sued him, his company, three of his adult children, and top Trump Organization officials.
James alleged the defendants misstated the values of real estate properties by billions of dollars in business records to obtain better loan and insurance terms, and tax benefits.
James notched a massive win against Trump and other defendants last week when Judge Arthur Engoron ruled they were liable for the fraud claims. Engoron in that ruling canceled the defendants’ New York business certificates and ordered an independent receiver to oversee their dissolution.
James, who also plans on being in Manhattan Supreme Court on Monday morning, in a statement said, “For years, Donald Trump falsely inflated his net worth to enrich himself and cheat the system.”
“We won the foundation of our case last week and proved that his purported net worth has long been rooted in incredible fraud,” James said. “No matter how rich or powerful you are, there are not two sets of laws for people in this country. The rule of law must apply equally to everyone, and it is my responsibility to make sure that it does.”
Engoron, not a jury, will decide whether the defendants are liable for the other six claims at the trial, which is expected to conclude in late December.
This is developing news. Please check back for updates.