The former US president and two of his children are accused of having colossally inflated their real estate assets for years.
The civil trial of Donald Trump and two of his children, accused of having colossally inflated their real estate assets for years, opens this Monday, October 2 in New York, threatening his economic empire and prelude to a legal marathon for the Republican favorite in the 2024 presidential election. The 77-year-old former president announced Sunday evening that he planned to be present on Monday for the opening arguments before the Supreme Court of the State of New York, where he is cited as a witness.
“I’m going to court tomorrow morning to fight for my name and reputation“, said the ex-real estate mogul in a message posted late in the evening on the Truth Social platform, in which he describes the New York attorney general as “corrupted” and the judge in charge of the case of “imbalance“. “This whole thing is a sham!!!!“, he also wrote.
Read alsoTrial of Donald Trump: “We are asking justice to resolve a political crisis”
Donald Trump cannot be sentenced to prison in this case, but the trial will offer a foretaste of the legal events likely to disrupt his campaign for the Republican nomination.
Criminally charged in four different cases, which have so far not damaged his popularity with the Republican base, Donald Trump must appear from March 4 before a federal court in Washington. He is accused of trying to reverse the result of the 2020 presidential election won by Joe Biden.
He will then have an appointment with the New York State justice system for accounting fraud, then in Florida for his negligent management of confidential documents after his departure from the presidency.
The trial which opens on Monday suddenly took on a considerable stake last week when Judge Arthur Engoron, who presides over it, estimated that “repeated fraud» were established and that the New York State Attorney General’s Office had already demonstrated that Donald Trump and the staff of his group had “overvalued» their assets between 812 million and 2.2 billion dollars from 2014 to 2021.
“Major blow»
As a result, this judge ordered the withdrawal of the business licenses for the State of New York from Donald Trump and two of his children, Eric Trump and Donald Trump Jr, executive vice presidents of the Trump Organization, as well as the forfeiture of the companies targeted by the complaint, so that they can be entrusted to liquidators.
If applied, these sanctions would carry “a major blow to Donald Trump’s ability to do business in New York State», Estimates Will Thomas, professor of business law at the University of Michigan.
Read alsoWho is Matt Gaetz, this mini-Trump who is poisoning American Republicans?
Donald Trump, who made his fortune in real estate and casinos in the 1980s and had promised to run the United States like his companies, would then lose control of several of his group’s flagships, such as the Trump Tower on 5th Avenue from Manhattan.
These properties are at the heart of prosecutor Letitia James’ accusations: the surface area of the businessman’s triplex in Trump Tower would have been tripled and the building at 40 Wall Street overvalued by $200 to $300 million in declarations. financial.
The luxury Mar-a-Lago residence in Florida and several Trump Organization golf courses also appear in the file. The prosecutor is also demanding recognition of other financial law violations and a fine of $250 million.
Dozens of witnesses
Donald Trump has always brushed aside the accusations and multiplied the attacks against the prosecutor James, an African-American Democratic elected official whom he called “racist“, and Judge Engoron, whom he describes as “disturbs“.
On his Truth Social network, he argued that the lending banks had been repaid, “totally, with interests, without failures and without victims“. The defense also intends to fight head to head on asset valuations.
Read alsoTrump 2 is already making Europeans tremble
The trial promises to be technical and dozens of witnesses are expected, including three of the Trump children, Eric, Donald Jr and Ivanka, initially targeted by the complaint but ultimately not prosecuted, or the former financial director of the Trump Organization, Allen Weisselberg , who served time in prison after pleading guilty to tax fraud in another case targeting the group.
Among the witnesses also include Donald Trump’s former lawyer, Michael Cohen, who has become one of his sworn enemies, as well as employees of lending banks or the Mazars accounting firm, which decided in 2021 to no longer working with the Trump Organization.