NY - $250m fraud against Former President Donald Trump, Trump Org., Eric, Donald Jr., Sept 2022, Trial 2 Oct 2023

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NY AG James
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One year ago, we filed a lawsuit against Donald Trump and the Trump Organization for engaging in years of financial fraud. Last week, we won much of our case when the judge ruled in our favor. Today, our trial begins.

From 2011-2021, Donald Trump and the Trump Organization produced false and misleading financial statements that significantly inflated his net worth. The statements were used to get more favorable terms on hundreds of millions of dollars in loans and insurance coverage.

As we present our case, we are confident that Trump, his associates, and his company will be held accountable for their years of wrongdoing, because no one is above the law.




Do we know whether during Trump's presidency the financial statements showed his net worth to be significantly deflated? Since he has always said he lost money, between one and two billion, while president but he did it for the people.
 
Alina Habba, an attorney for former President Donald Trump, Allen Weisselberg, former Trump Organization chief financial officer, and other Trump Organization employees, delivered an opening statement in court Monday attacking New York Attorney General Letitia James.

Habba’s comments echoed Trump — who has tried to tie the civil case against him in New York as an effort to attack him and his presidential campaign.

“Ms. James said she was going to come into office and ‘get Trump,’” Habba said, claiming that the case could have been brought three years ago before she took office.

Habba also criticized the valuations the judge gave for properties like Mar-a-Lago, which the judge valued at $18 million in his ruling last week, finding Trump and his co-defendants liable for “persistent and repeated” fraud.

"Doral would sell for at least a billion dollars. Mar-a-Lago at least a billion,” Habba said.
“The value is what someone is willing to pay. The Trump properties are Mona Lisa properties,” she added. “That is not fraud, that is real estate.”
Habba argued that if Trump was trying to show a higher net worth, he would have included things like the rights to “The Apprentice” and the Trump brand.

“There would have been the brand, the same brand that got that man elected for president,” she said. "There’s a lot of people in this room that probably don’t like that and that’s why we’re here."

Trump was looking at Habba as she spoke in the courtroom.
Live updates: Trump civil fraud trial in New York begins

"There was no intent to defraud, period, the end," she said.

Trump was listening intently as Habba went back and forth with the judge.
Trump fraud trial live updates: Former president watches as lawyers spar

You heard it here folks, nothing to see - we can all go home now :rolleyes:
 

Judge pushes back after Trump lawyer attacks New York attorney general in opening statement​

From CNN's Lauren del Valle, Aaron Cooper, Kara Scannell and Jeremy Herb

Judge Arthur Engoron rebutted attacks from Donald Trump's attorney Alina Habba against New York Attorney General Letitia James, responding to her opening statement and getting into a debate with the attorney over her claims.
In her statement, Habba attacked James for saying in her campaign for attorney general that she was going to “get Trump.”
Engoron, who ruled last week that Trump and his co-defendants were liable for fraud in the attorney general’s civil case against Trump, responded by noting that the defense already tried to dismiss the case claiming that James brought it as a “witch hunt” against Trump.
“I denied that,” Engoron said, adding that the ruling was affirmed by a New York appellate court. “So Ms. James’ motivations are no longer at issue in this case, are they?”
Trump intently watched Habba as she sparred with the judge.
"These statements of financial condition were current, current market value. The point is what were they worth then," Engoron said, pushing back on Habba's assertion that the inflated values showed what they could be sold for at some point in the future.
An accounting disclaimer from Mazars, Trump’s former accounting firm, essentially said, “We're relying on the Trump Organization," Engoron said. "That's how I read it.”
“No, your honor," Habba responded, arguing that the Trump Organization relied on Mazars and "they're the accountants."

Live updates: Trump civil fraud trial in New York begins
 
It is illegal to obtain money (loans are money) through fraud, even if the fraudster thinks it's fine.

And he's yet to put numbers on the disputed items . "My brand is valuable, I'm worth more, I'm successful." None of those verbal statements are verifiable numbers to put on a written financial statement.

jmo
 

You must read this-it dates back to 2011- this document was referred to on MSNBC yesterday- when asked then, how much is was worth: he actually said it depends on how he feels that day. OMG
 

You must read this-it dates back to 2011- this document was referred to on MSNBC yesterday- when asked then, how much is was worth: he actually said it depends on how he feels that day. OMG

Truly elusive and slippery. If he gives no specifics, he thinks he can't be pinned down.
 
Pagliery's tweet thread so far:


It's a beautiful Monday morning in NYC. There's quite a crowd outside the courthouse.

Donald Trump is expected to show up for the first day of his bank fraud trial.

The judge has already given his real estate empire the corporate death sentence.

Stay up to date @thedailybeast.
rump lies all the time."

Were now in the civil division's historic Courtroom 300, where Justice Arthur F. Engoron will be sitting in front of a 30' large fresco painting depicting American colonial settlers in court.

Cops, bailiffs, Secret Service everywhere.
New York Attorney General Letitia James just walked into the courtroom.
For those wondering, the walls are covered in a painting by Andrew T. Schwartz depicting the meeting of the first popular law court of New Netherland in New Amsterdam--and the 1664 transfer of this storied land from the Dutch to the English.

So, the origins of NYC.
Why is Trump here in person? He doesn't have to be.

Context: He cited this as his excuse for skipping out on 2 deposition days in his federal case against ex-lawyer Michael Cohen.

If he didn't show up, he'd be in contempt of court.

Expect him to be here today *and* tomorrow.
Trump walked into court at 10:07. He looks angry as hell.
Justice Engoron starts with humor, as usual. "Weeks ago, I said we would start today 'come hell or high water.’ Meteorologically speaking, we’ve had the high water."
Here's the story so far. Trump slowly shuffled into the courtroom, dragging his feet with an angry scowl on his face.

This is the first time he's sharing the room with Justice Engoron, whom he's railed against online.

Trump's 2024 campaign spokesman Steven Cheung and senior adviser Jason Miller are also in the courtroom. They're sitting on the sidelines.
Kevin Wallace at the AG's office just wrapped up opening statements.

Chris Kise is now up for Trump's side.
Odd start, with Kise asserting the very same points this judge dismissed outright last week.

The ideas that:
1. these are private business deals that need not be scrutinized this way
2. Trump's bogus disclaimers on financial statements were legit disclosures to banks
I've said this before. Kise sounds like Jeff Goldblum. Tone, cadence and all.
After a brief break, Trump lawyer Alina Habba is now presenting. And it's full of her signature flair.

Judge: "How are you?"

Alina Habba: "Well, we’ve been doing this for three years."

Hoo boy.
Habba: "I just want to remind everyone that Ms. James said she was going to come into the Attorney General's Office and 'get Trump.'”

She says she looks forward to grilling Michael Cohen on the stand, calling him "a convicted felon, he’s a liar."
Now she's chiding the judge's own law clerk, saying something along the lines of, "Now before Ms. Greenfield gives you a note..."
“The value is what someone is willing to pay. The Trump properties are Mona Lisa properties.”

This might be the first time Alina Habba is presenting in court in front of her client, Trump. She's bringing the same fire that she displays while speaking on rightwing news outlets.
Habba is invoking "the American people" quite a bit, so you can tell her who intended audience is.

"Anyone who plays golf knows, Doral is one of the best golf courses in the country. I've had the pleasure of playing there..."

"Mar-a-Lago can sell for a billion dollars."
Habba:

Trump is "the president."

The Trump Organization is "that beautiful company."

This case presents "a very dangerous time in our country and in this state."
Justice Engoron and Habba are now in a full-on argument. She's bringing up her past issues with his decisions, and he's shutting her down.

As usual, with some embarrassing corrections:

"You referred to Wallace’s presentation as testimony. Opening statements are not testimony."
Engoron notes that he previously rejected Habba's "witch hunt" arguments, and the appellate court affirmed him.

Then Habba throws a curveball, calling AG Letitia James' statements on the courthouse steps "part of the shakeup."

@thedailybeast Good context from @jruss_jruss here:

@thedailybeast @jruss_jruss Now Kise is seizing the moment to turn the heat on the judge too.

"You owe it to the defendants to listen to this evidence."

"I don't think you're an expert on accounting standards."

"We have experts you haven't heard from."
@thedailybeast @jruss_jruss You can hear in the voices of Alina Habba, Clifford Roberts, and Chris Kise that they are ticked off about the judge's ruling last week.

This one:
Trump Tries to Strike Down New York AG Case Before It Starts

@thedailybeast @jruss_jruss Circling back to the "witch hunt" stuff, which is just bonkers to raise at this point, the judge rejected this in 2022.

"For the OAG not to have investigated the original respondents... would have been a blatant dereliction of duty."
@thedailybeast @jruss_jruss "The impetus for the investigation was not personal animus, not racial or ethnic or other discrimination, not campaign promises, but was sworn congressional testimony by former Trump associate Michael Cohen that respondents were 'cooking the books.'"

iapps.courts.state.ny.us/fbem/DocumentD…

@thedailybeast @jruss_jruss We're breaking for lunch.

As he exited the courtroom, Donald Trump just walked by a seated AG Letitia James and sneered at her. Chris Kise ushered him along.
 
Former President Donald Trump said he attended the civil fraud trial against him that began Monday in New York so he could “watch this witch hunt myself.”

Trump was not required to appear in court Monday for the trial against him, his eldest sons, their companies and Trump Organization executives. But he chose to attend and sit in the Manhattan courtroom – while giving multiple statements attacking the proceedings as he entered and exited.

“I’ve been going through a witch hunt for years, but this is really now getting dirty between (special counsel) Jack Smith, and between all of these DOJ people helping them along,” Trump said. “This is a pure witch hunt for purposes of interfering with the elections of the United States of America. It’s totally illegal.”
He continued to rail against Arthur Engoron, the judge overseeing his civil trial, saying he should be disbarred after he ruled last week that Trump and his co-defendants were liable for fraud in the attorney general’s civil case.
Live updates: Trump civil fraud trial in New York begins

During the lunch break, Trump spoke in front of cameras inside the courthouse arguing that Engoron is a "rogue judge" and that James is a "corrupt person" and a "terrible person."

The former president also called Engoron a "Trump-hater," and at one point spoke about how people are "being murdered right outside in the street" and that nothing happens to those criminals.

“We’re going to be here for months with a judge that already made up his mind. It’s ridiculous,” Trump complained to reporters during the lunch break, amping up his attacks on Engoron, whose rulings in the case could cost Trump’s company hundreds of millions of dollars and impact its ability to do business in New York.

“This is a judge that should be disbarred. This is a judge that should be out of office. This is a judge that some people say could be charged criminally for what he’s doing. He’s interfering with an election, and it’s a disgrace,” Trump said.

Asked why he wanted to attend the opening of the trial today, he said he wanted to "watch this witch hunt," whose purpose, he said, is to interfere with the country's elections.

Trump also bashed special counsel Jack Smith, who has charged him with federal counts in two other unrelated cases.
Trump fraud trial live updates: What’s happening inside the courtroom
 
The attorney for Donald Trump’s adult sons said he “vigorously” disagrees with most of the opening statement given on behalf of the attorney general.

Cliff Robert, who represents Donald Trump Jr. and Eric Trump, began his opening statement by attacking Kevin Wallace, who spoke for New York Attorney General Letitia James' office.

“I vigorously on behalf of my clients disagree with just about everything Mr. Wallace said,” Robert began.

“You need to judge credibility,” Robert said, urging the judge to determine the credibility of the people who were involved in the transactions, namely Michael Cohen.

“I don’t think that could be overstated,” he added.

"Their major lynchpin is Michael Cohen, so when you talk about credibility, you're going to have a guy who lies to everyone, who is a convicted felon," Robert said. "And he is a fixture of what their case is about."
Robert argued that there was nothing materially wrong with the valuations of financial conditions that Don Jr. and Eric signed, and they would not be “running away” from them.

“They relied on the work product of others” when they signed the statements of financial condition after Trump took office, Robert said.
Trump fraud trial live updates: What’s happening inside the courtroom
 
If anybody but Trump spewed the kind of crap he keeps spewing (like the judge is rogue), that person would be in contempt and thrown in jail and fined. Once again, Trump gets to say whatever garbage he feels like saying and there are no consequences. It is sickening.
 

Why is Trump here in person? He doesn't have to be. Context: He cited this as his excuse for skipping out on 2 deposition days in his federal case against ex-lawyer Michael Cohen. If he didn't show up, he'd be in contempt of court. Expect him to be here today *and* tomorrow.
But isn't Trump the one who is suing Cohen? Why would he want to skip deposition on a suit he initiated? (Rhetorical question as I think I know why.) jmo
 

Alina Habba, a lawyer speaking on behalf of some defendants, in a separate opening statement called Trump's assets "Mona Lisa properties," and said Mar-a-Lago alone would fetch more than $1 billion if Trump sold it.
 

Alina Habba, a lawyer speaking on behalf of some defendants, in a separate opening statement called Trump's assets "Mona Lisa properties," and said Mar-a-Lago alone would fetch more than $1 billion if Trump sold it.
Oh well, from the mouth of Alina Habba....
 
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