Former US President Donald Trump has admitted in a New York fraud case that he made inaccurate asset estimates when valuing real estate. On the witness stand Monday, he said under oath that his company had undervalued his properties at Mar-a-Lago and the Doral Golf Course in Florida and overvalued his Trump Tower apartment, among other properties.
The ex-president tried to downplay the significance of the estimates. ‘It wasn’t important. “They made it important, but it wasn’t important,” Trump said. However, prosecutors say the estimates were inflated to obtain better financing terms.
Trump’s children are also being questioned
The trial, in which his children Ivanka, Eric and Donald Trump Jr. are also heard, is mainly about the punishment. Judge Arthur Engoron had already ruled in September that Trump and his family business inflated real estate valuations and could be liable for fraud. The Public Prosecution Service is demanding, among other things, a fine of at least 250 million dollars (about 233 million euros) and a business ban in the American state of New York for Trump and his children.
According to New York Attorney General Letitia James, Trump allegedly inflated his assets by as much as 3.6 billion dollars (approximately 3.35 billion euros) to obtain cheaper loans from banks. The manipulation is said to have lasted more than ten years.
Accusations against the judiciary
Trump has repeatedly called the case a “witch hunt” and accused Engoron and New York Attorney General James of being politically biased. He maintained these allegations on the witness stand, where he accused judicial authorities of excessive scrutiny of his actions following his victory in the 2016 presidential elections.
“I’m sure the judge will convict me because he always judges against me,” he said. “This is a very unfair process,” he later added. Trump’s comments prompted a sharp rebuke from Judge Engoron, who threatened to cut off his testimony.
Despite everything, there is a chance to be re-elected
Despite these and other procedures, Trump is by far the leading candidate for the Republican presidential nomination. According to experts, even if he is found guilty in any of the cases, he would not have to give up his candidacy, and if he wins the election, he would not have to give up the presidency.
In early November 2024, in addition to the president, a third of the Senate and the entire House of Representatives will be re-elected. Trump’s successor, Democratic incumbent Joe Biden, is a candidate again.
Source: Krone
I am Wallace Jones, an experienced journalist. I specialize in writing for the world section of Today Times Live. With over a decade of experience, I have developed an eye for detail when it comes to reporting on local and global stories. My passion lies in uncovering the truth through my investigative skills and creating thought-provoking content that resonates with readers worldwide.
