Key Points in Closing Arguments of Trump Civil Trial
Former President Donald Trump faces a high-stakes civil fraud trial in New York, where his business empire is on the line The attorney general seeks $370M in damages, while Trump's lawyers deny any intent to defraud, claiming no victims Two counts against Trump and his sons were dropped, and Trump's presence at the trial drew attention during his campaign
Donald Trump is scheduled to be present at the concluding statements for his New York civil fraud trial on Thursday, a case that could have significant implications for his business operations in the state. It is anticipated that Trump will not address the court, as Judge Arthur Engoron turned down a request for him to speak due to Trump's refusal to adhere to limitations on the topics he could address.
The final day of the civil fraud trial witnessed a flurry of last-minute drama surrounding Trump's involvement. It was a bitter, argument-filled, three-month-long circus involving Trump and his attorneys, the New York attorney general's office, and the presiding judge.
On December 7, 2023, Donald Trump, the former US President, leaves for a recess during the civil fraud trial involving the Trump Organization at the New York State Supreme Court in New York City.
Credit: Timothy A. Clary/AFP/Getty Images
During the closing arguments in a civil fraud trial in New York, the judge has ruled that Trump is unable to speak. New York Attorney General Letitia James is pursuing $370 million in damages and wants to prevent Trump from conducting business in the state. The allegations claim that Trump, his adult sons, and his company deceived banks and insurance companies by exaggerating the value of Trump's assets.
Prior to the trial, Engoron had already declared that Trump and his co-defendants were responsible for ongoing and repeated fraud. The 11-week trial in late 2021 aimed to assess the extent of damages and six other claims brought by the attorney general, such as conspiracy, the issuance of false financial statements, falsification of business records, and insurance fraud.
Trump criticized the trial, alleging that the attorney general and the judge were involved in a political attack against him. He appeared at the trial multiple times and provided testimony, using both the witness stand and his statements outside of the courtroom as extensions of his campaign rallies.
"Trump denounced the trial as rigged and unfair, expressing his dissatisfaction with the absence of a jury and victims, and emphasizing the positive financial statement. Engoron announced that he will not make a decision on Thursday, promising to issue a written order by the end of the month at the earliest. Trump's legal team has already filed an appeal against Engoron's initial ruling and has indicated their intention to appeal any subsequent decisions."
Heres what to know about Thursdays court session:
Attorney general seeks $370M in damages
In post-trial briefs filed last week, James increased the damages sought from Trump and his co-defendants, now seeking more than the originally claimed $250 million. The attorney general stated that the increased disgorgement amount of "ill-gotten gains" was due to Trump saving $168 million from favorable interest rates, making a $60 million profit from the license of the Ferry Point golf course, and nearly $140 million in total profit from the sale of the lease for the Old Post Office building, Trump's hotel in Washington, DC.
The attorney general wrote that the various deceptive tactics used to inflate asset values and hide the truth were so outrageous that they defy any innocent explanation. The attorney general's office argued that Trump, as the owner of his company, had a clear financial motive to commit fraud. They stated that his testimony about his knowledge of real estate made it highly unlikely that he was unaware of his own assets.
The attorney general's office called Donald Trump and his three children, who were executives at the Trump Organization, to testify in the trial. They also called former Trump CFO Allen Weisselberg and former controller Jeff McConney, who are both co-defendants in the case. Donald Trump Jr. and Eric Trump are also co-defendants, while Ivanka Trump was removed from the case after an appeals court ruled that the statute of limitations had expired.
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Trump lawyers say there are no victims or any intent to defraud
Trump's legal team contended in their written briefs that the majority of the transactions mentioned in the attorney general's complaint were time-barred, that Trump's financial condition statements did not include significant errors, and that the attorney general's assertions failed to show any tangible real-world effects.
Trump's lawyers stated that there is no evidence in the record to support the claim that the terms or pricing of the subject loans would have been affected by the alleged misstatements. They also pointed out that no witness from any bank or elsewhere testified to this at trial. Additionally, Engoron has already dismissed several arguments from Trump's attorneys, including challenges to the statute of limitations and disgorgement, affirming their legal appropriateness.
Last month, Engoron issued a scathing opinion denying a request from Trump's lawyers to dismiss the case, stating that their arguments were unconvincing and the experts they presented were not credible. "As thoroughly explained in this trial, valuations can be determined using various criteria and methods. However, a falsehood remains a falsehood," Engoron wrote.
Two counts against Trump and his sons were dropped
Trump's attorneys have been open about their plans to appeal once Engoron issues his decision. They consistently informed the judge during the trial that they were actively preserving evidence and actions for the purpose of building an appellate record.
The attorney general's office has dismissed two charges against former President Donald Trump Jr. and Eric Trump. The initial lawsuit accused all defendants of participating in a conspiracy to commit insurance fraud and providing false financial statements to insurers in order to secure favorable policies and rates.
In the legal filings submitted on Friday, the attorney general's office stated that only Weisselberg and McConney were involved in insurance fraud, so counts six and seven do not apply to Trump, Eric Trump, or Donald Trump Jr. Trump Jr. and Eric Trump's lawyers also argued in their briefs on Friday that there was no evidence presented at trial to support the claim that they were involved in conversations to obtain insurance.
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Trump attended trial repeatedly as campaign heats up
Trumps New York civil trial was often heated, in a preview of what could unfold should any of Trumps four criminal trials take place this year.
During the attorney general's case, Trump testified in a contentious manner that led to an exasperated Engoron threatening to remove him from the witness stand for making political speeches and evading questions. In addition, Trump attended the trial as a spectator on several occasions, where he openly criticized the attorney general, the judge, and the case against him while speaking to the media outside the courtroom.
Engoron imposed a gag order on discussing the judges staff after Trump's attacks on the judges clerk. Trump was fined twice for breaching the gag order, such as when he spoke during the testimony of his former lawyer Michael Cohen. Last month, Trump's attorneys appealed the gag order to the New York Court of Appeals after a lower appellate court rejected their challenge.
Engoron cautioned Trump's attorney, Chris Kise, in his emails regarding the former president's potential speech on Thursday, warning of potential violations of the gag order. "If he breaches the existing gag order, I will instruct court officers to promptly escort him out of the courtroom and impose a fine of no less than $50,000," Engoron stated.
