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Donald Trump's business fraud trial wraps up day one in New York

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Former President Donald Trump and two of his children are accused of exaggerating the value of their real estate.

Updated October 2, 2023 at 7:05 PM ET

"My message is simple: No matter how powerful you are. No matter how much money you think you may have, no one is above the law," said State Attorney General Letitia James outside the New York Supreme Court ahead of the trial. "What we have is a scam," Trump told reporters ahead of opening statements."The actual net worth is substantially more. No bank was affected. No bank was hurt."

Another recognizable name on the witness list is Michael Cohen, a former Trump lawyer. On Monday, prosecutors played part of a video deposition with Cohen in which he said he was involved with preparing several years' worth of financial documents. He was quoted saying that others in the organization, including Weisselberg, would inflate the numbers to land Trump higher on the Forbes list.claiming Trump and his executive team engaged in fraudulent business practices.

 

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