Closing arguments are expected to be delivered on Thursday in the non-jury civil trial between former President Trump and New York Attorney General Letitia James. The trial, which began in October, centers around allegations that Trump inflated his financial statements and deceived banks. Letitia James is seeking a penalty of $370 million from Trump and his business empire. Trump and his family have continuously denied any wrongdoing, with the former president claiming that his assets were undervalued.
However, Judge Arthur Engoron recently rescinded the court’s offer for Trump to deliver his own closing argument in the case. Engoron stated that Trump would only be allowed to comment on the relevant facts and apply the relevant law, without introducing new evidence or speaking ill of court staff or the attorney general. Trump’s attorney, Chris Kise, argued that Trump should be allowed to speak about the issues that need to be addressed.
Kise also requested a postponement of closing arguments due to the passing of Trump’s mother-in-law, but the request was denied by Engoron. The judge imposed a deadline for Trump’s attorney to agree to abide by his rules for the closing argument, which was missed.
Letitia James filed the lawsuit against Trump under a consumer protection statute that denies the right to a jury trial. She is seeking more than $370 million in repayment for what she claims were illicitly gained profits. In a previous ruling, Judge Engoron found that Trump and the Trump Organization had committed fraud by overvaluing assets and exaggerating net worth.
Throughout the trial, Trump’s defense team brought in witnesses, such as former Deutsche Bank top executives, who testified that they viewed Trump as a valuable client. Expert witnesses, including New York University accounting professor Eli Bartov, testified that there was no evidence of accounting fraud in Trump’s financial statements.
The final decision in the civil fraud case will be determined by the judge. The outcome of this trial could have significant financial implications for Trump and his business empire.
