Three children of former US President Donald Trump, will testify starting this Wednesday in the civil trial taking place in New York for financial fraud. The lawsuits facing the former presidential family threaten their real estate empire.

Donald Trump Jr, 45, is scheduled to testify today after the witnesses preceding him conclude. The clan parade will continue on Thursday with Eric Trump, 39.

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Both are executive vice presidents of the Trump Organization, a conglomerate of companies that manage residential and office skyscrapers, luxury hotels and golf courses around the world.

Like his father, are accused by New York State Attorney General Letitia James of inflating the group’s assets by hundreds of millions of dollars to obtain more advantageous bank loans and better insurance conditions.

Leave my children alone, Engoron. You are a disgrace to the judicial profession,” Donald Trump wrote last night on his Truth Social network about the investigating judge of the case, Arthur Engoron.

True to form, Trump has also accused the judge of being “crazy, totally unbalanced and dangerous” and of “doing the Democratic Party’s dirty work.”

Since the start of the trial, on October 2, The judge has imposed fines of $5,000 and $10,000 on the Republican billionaire.for attacking the judicial secretary of the court that is trying him.

If the judge sticks to the calendar, the 77-year-old Republican will be questioned on Monday, exactly one year less one day before the presidential elections of November 5, 2024, which he hopes to attend to return to the presidency of the United States. Joined.

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Although she is not involved, her daughter, Ivanka, who left the Trump Organization in 2017 to join the White House as an advisor to the 45th president, is called two days after her father as a witness, but this Wednesday she appealed the judge’s decision to question her. .

Repeated fraud

Long associated with the family business, Donald Jr. and Eric Trump took over the reins of the Trump Organization when his father arrived at the White House.

Lawyers maintain that the valuation of the group’s assets, such as Trump Tower and the 40 Wall Street building, were subjective but honest, and that the banks did not lose a single dollar by lending money to the Trump Organization.

But according to Michiel McCarty, head of investment bank MM Dillon & Co, who took the stand Wednesday as an expert witness, lending banks, such as Deutsche Bank, could have set higher interest rates if they had a less rosy view of the economy. Donald Trump’s financial situation.

It reviewed four loans to finance projects around a golf course in Florida, two luxury hotels in Washington and Chicago, as well as 40 Wall Street, and estimated interest losses at $168 million between 2014 and 2023. calculation was challenged by the defense.

Donald Trump rants against an “unfair” trial carried out by a “corrupt” prosecutorLetitia James, and a “rogue” judge, Arthur Engoron, in the pay of the Democrats to prevent him from returning to the White House.

Regularly present at the hearings, the favorite in the polls for the Republican primaries, he transforms each of his comings and goings through the corridors of the court into a mini press conference and poses as the victim of a judicial machination, as in the other four cases in those facing criminal charges, particularly for attempting to overturn the 2020 presidential election.

His presence at the hearings is also a sign of the importance that Donald Trump gives to the case. Although he will not go to jail, the trial could result in the loss of control of part of his real estate properties, in addition to a fine of $250 million and a ban on managing companies in New York.

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Even before the trial began, on October 2, Judge Engoron ruled that the prosecution had presented “conclusive evidence that, between 2014 and 2021, the defendants overstated the assets” by between “812 million (and) 2,200 million dollars,” depending on the year.

As a consequence of “repeated fraud”, ordered the liquidation of the companiess, a true judicial and patrimonial bomb, but its decision was suspended on appeal.

With information from AFP.

ORP

2023-11-01 20:22:10
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