Trump business empire under threat as New York fraud trial opens

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NEW YORK, United States -- Former US president Donald Trump will appear in a New York court on Monday as a civil fraud trial against him and two of his sons kicks off, with the case threatening the Republican's business empire as he campaigns to retake the White House.

In Monday's case, Judge Arthur Engoron has already ruled that Trump and his sons Eric and Don Jr. committed fraud by inflating the value of the real estate and financial assets of the Trump Organization for years.

He is scheduled to appear before a federal judge in Washington on March 4 on charges of trying to overthrow the results of the 2020 presidential election won by Joe Biden. In the New York civil case, Engoron ruled that Trump, his two eldest sons and other Trump Organization executives lied to tax collectors, lenders and insurers for years in a scheme that exaggerated the value of their properties by $812 million to $2.2 billion between 2014 and 2021.As a result, the judge revoked the business licenses that allowed the Trump Organization to operate some of its New York properties.

According to Attorney General James, a Democrat, Trump's own apartment in that building is among the spaces that were fraudulently overvalued -- it was listed as three times bigger than its true size. On his Truth Social platform, Trump claimed there was no"wrongdoing" in his actions of"fully paying back sophisticated Wall Street Banks in full, with interest, with no defaults, and with no victims."

 

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