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Trump Arrives at New York Court for Start of Business Fraud Trial
Posted
October 2, 2023
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October 2, 2023
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0:14Now PlayingDonald Trump arrived at New York state court in Manhattan on Monday flanked by a team of lawyers and Secret Service agents for the start of a contentious civil trial over whether he misled banks about his assets.
Trump’s attendance wasn’t mandatory and hadn’t been expected until just a few days ago, and the embattled former president isn’t expected to speak in court until later in the trial when he is called to testify. But his appearance carries a certain symbolic weight, especially as he rarely attends his civil litigation.
New York Attorney General Letitia James, who sued last year, alleges that Trump and his company used false asset valuations to inflate his wealth by billions of dollars a year from 2011 to 2021, tricking Deutsche Bank AG and other lenders into giving him better terms on loans. He is also accused of using false valuations to get cheaper insurance policies. All told, Trump allegedly reaped $250 million in illegal profit.
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