Aggrieved and defiant, former U.S. president Donald Trump spent a day in court Monday for the sometimes testy start of a trial in a fraud lawsuit that could cost him control of Trump Tower and other prized properties.
"Disgraceful trial," he declared during a lunch break, after listening to lawyers for New York Attorney General Letitia James excoriate him as a habitual liar. The state's lawsuit accuses the business mogul-turned-politician and his company of deceiving banks, insurers and others by misstating his wealth for years in financial statements.
"They were lying year after year after year," Kevin Wallace, a lawyer in James' office, said as Trump sat at the defense table. He looked straight ahead, arms crossed, facing away from a screen that showed details of Wallace's presentation.
Trump denies wrongdoing and voluntarily attended a trial that he called a "sham," a "scam," a waste of the state's time and "a continuation of the single greatest witch hunt of all time." Currently the Republican front-runner in the 2024 presidential race, he reiterated claims that James, a Democrat, is trying to thwart his bid to return to the White House.
"What we have here is an attempt to hurt me in an election," he said outside court, adding, "I don't think the people of this country are going to stand for it."
Trump sneered at James as he passed her on his way out at lunchtime; she left smiling. Meanwhile, his campaign immediately began fundraising off the appearance.
But Trump left for the day claiming he'd scored a victory, pointing to comments that he viewed as Judge Arthur Engoron coming around to the defence view that most of the suit's allegations are too old.
Former President Donald Trump, center, appears in court Monday, Oct 2, 2023, in New York. (Brendan McDermid/Pool Photo via AP)
The judge suggested that testimony about Trump's 2011 financial statement was beyond the legal time limit. Wallace promised to link it to a more recent loan agreement, but Trump took the judge's remarks as an "outstanding" development for him.
Engoron ruled last week that Trump committed fraud in his business dealings. If upheld on appeal, the ruling could force Trump to give up New York properties including Trump Tower, a Wall Street office building, golf courses and a suburban estate. Trump has called it a "a corporate death penalty" and insisted the judge, a Democrat, is unfair and out to get him.
The non-jury trial concerns six remaining claims in the lawsuit, including allegations of conspiracy, insurance fraud and falsifying business records. Engoron said that neither side sought a jury and that state law doesn't allow for juries when suits seek not only money but a court order setting out something a defendant must do or not do.
James is seeking US$250 million in penalties and a ban on Trump doing business in New York.
"No matter how powerful you are, and no matter how much money you think you have, no one is above the law," she said on her way into the courthouse.
Trump says that James and the judge are undervaluing such assets as his Mar-a-Lago resort in Palm Beach, Florida. He and his lawyers also maintain that disclaimers on his financial statements made clear that they were estimates and that banks would have to perform their own analysis.
The former president, his two eldest sons, Trump Organization executives and fixer-turned-foe Michael Cohen are all listed among dozens of potential witnesses.
Trump isn't expected to testify for several weeks. His trip to court Monday marked a remarkable departure from his past practice.
Trump didn't go to court as either a witness or a spectator when his company and one of its top executives was convicted of tax fraud last year. He didn't show, either, for a civil trial earlier this year in which a jury found him liable for sexually assaulting the writer E. Jean Carroll in a department store dressing room.
Former U.S. president Donald Trump, centre, arrives at New York Supreme Court, Monday, Oct. 2, 2023, in New York. (AP Photo/Seth Wenig)
This time, "I wanted to watch this witch hunt myself," he said outside court.
In a recent court filing, James' office alleged Trump exaggerated his wealth by as much as US$3.6 billion.
He claimed his three-story Trump Tower penthouse, replete with gold-plated fixtures, was nearly three times its actual size and worth US$327 million, far more than any New York City apartment ever has fetched, James said. He valued Mar-a-Lago as high as US$739 million -- more than 10 times a more reasonable estimate of its worth, James maintained.
"Every estimate was determined by Mr. Trump," Wallace said in his opening statement. He pointed to pretrial testimony by Trump Organization figures and ex-insiders including Cohen, who said the company estimated assets to get to a predetermined number "that Mr. Trump wanted."
Wallace said the alleged scheme got the company better loan rates, saving it US$100 million in interest.
"They hid their weaknesses and convinced these banks to take on hundreds of millions of dollars in risk," he said, adding, "While the defendants can exaggerate to Forbes magazine or on television, they cannot do it while conducting business in the state of New York."
Defense lawyers said the financial statements were legitimate representations of prime properties that can command top dollar.
"That is not fraud. That is real estate," attorney Alina Habba said in an opening statement. She accused the attorney general's office of "setting a very dangerous precedent for all business owners in the state of New York."
Defense experts will testify that valuing properties is subjective, Trump attorneys said. He and his lawyers have also argued that no one was harmed by anything in the financial statements, which were given to banks to secure loans and to financial magazines to justify his place among the world's billionaires.
Banks that made loans to him were fully repaid. Business partners made money. And Trump's own company flourished.
Defense lawyer Christopher Kise blasted last week's fraud ruling, telling the judge he shouldn't have made a decision before hearing expert trial testimony on property valuations. Engoron, tiring of the defense's criticism, shot back: "Respectfully, what's that expression? You're stalking the dead horse here."
Testimony began Monday afternoon with Donald Bender, a longtime partner at accounting firm Mazars LLP, describing how he spent 50 to 60 hours a year preparing Trump's financial statements. Mazars cut ties with Trump last year after James' office raised questions about the documents' reliability.
James' lawsuit is one of several legal headaches for Trump as he campaigns to return to the White House. He has been indicted four times since March, accused of plotting to overturn his 2020 election loss to Democrat Joe Biden, hoarding classified documents and falsifying business records related to hush money paid on his behalf. He has pleaded not guilty to all the allegations.
The New York fraud trial is expected to last into December, Engoron said.
------
Associated Press writers Jill Colvin and Karen Matthews contributed to this report.
Canadians will soon receive a temporary tax break on several items, along with a one-time $250 rebate, Prime Minister Justin Trudeau announced Thursday.
A mother shares with CTVNews.ca her family's health scare as medical experts say cases of the disease and other respiratory illnesses have surged, filling up emergency departments nationwide.
Russian President Vladimir Putin announced Thursday that Moscow has tested a new intermediate-range missile in a strike on Ukraine, and he warned that it could use the weapon against countries that have allowed Kyiv to use their missiles to strike Russia.
Manitoba RCMP have issued a Canada-wide arrest warrant for the semi-driver involved in a crash that killed an eight-year-old girl and her mother.
Taylor Swift is officially back in Toronto for round two. The popstar princess's motorcade was seen driving along the Gardiner Expressway on Tuesday afternoon, making its way to the downtown core ahead of night four of ‘The Eras Tour’ at the Rogers Centre.
Canadians won’t have to pay GST on a selection of items this holiday season, the prime minister vowed on Thursday.
The mother of an infant who died after being found at an apartment building in midtown Toronto on Wednesday has been charged with failing to provide the necessaries of life.
Prime Minister Justin Trudeau said Canada will 'abide' by an International Criminal Court (ICC) arrest warrant for Israeli Prime Minister Benjamin Netanyahu.
Canadian drivers are regularly in a hurry to get to their destination and a majority are willing to take unnecessary risks on the road, according to the results of a new survey.
Manitoba RCMP have issued a Canada-wide arrest warrant for the semi-driver involved in a crash that killed an eight-year-old girl and her mother.
A high school on Prince Edward Island is removing pictures of its late students from a memorial wall – a decision that has upset one mother whose daughter attended the school.
A man from B.C.’s Lower Mainland who was scammed while selling his Porsche Cayenne online is sharing his cautionary tale – while calling for increased protections from the government.
Peel police say a bench warrant has been issued for the arrest of one of the suspects charged in connection with the gold heist at Pearson International Airport last year.
Calgary police are seeking information in relation to a Tuesday fire in Hillhurst that they believe was deliberately set and allegations it could be connected to a frightening Bitcoin scam.
The mother of an infant who died after being found at an apartment building in midtown Toronto on Wednesday has been charged with failing to provide the necessaries of life.
A recent lawsuit alleges Linda McMahon, who U.S. President-elect Donald Trump tapped to lead the Department of Education, knowingly enabled the sexual exploitation of children by a World Wrestling Entertainment (WWE) employee as early as the 1980s — allegations she denies.
Brazil's federal police said Thursday they indicted former President Jair Bolsonaro and 36 other people on charges of attempting a coup to keep him in office after his electoral defeat in the 2022 elections.
More than 60 years after President John F. Kennedy was assassinated, conspiracy theories still swirl and any new glimpse into the fateful day of Nov. 22, 1963, in Dallas continues to fascinate.
A woman told police that she was sexually assaulted in 2017 by Pete Hegseth after he took her phone, blocked the door to a California hotel room and refused to let her leave, according to a detailed investigative report made public late Wednesday.
The US government formally proposed a partial breakup of Google on Wednesday, urging a federal judge to force a sale of the company’s Chrome web browser after a landmark ruling this year found that Google had violated US antitrust law with its search business.
Prime Minister Justin Trudeau said Canada will 'abide' by an International Criminal Court (ICC) arrest warrant for Israeli Prime Minister Benjamin Netanyahu.
Canada's consul general in New York doubled-down Thursday on his past claim that he exerted no influence on the decision of Global Affairs Canada to buy a $9 million condo in Manhattan.
Prime Minister Justin Trudeau said Canada will 'abide' by an International Criminal Court (ICC) arrest warrant for Israeli Prime Minister Benjamin Netanyahu.
Canadians will soon receive a temporary tax break on several items, along with a one-time $250 rebate, Prime Minister Justin Trudeau announced Thursday.
A mother shares with CTVNews.ca her family's health scare as medical experts say cases of the disease and other respiratory illnesses have surged, filling up emergency departments nationwide.
A Dallas anesthesiologist was sentenced Wednesday to 190 years in prison for injecting a nerve-blocking agent and other drugs into bags of intravenous fluid at a surgical center where he worked, leading to the death of a coworker and causing cardiac emergencies for several patients.
A measles outbreak in New Brunswick that began last month with a single travel-related case is growing and today stands at 44 cases.
The Canadian Space Agency (CSA) is inviting Canadians to choose the name of the first Canadian Lunar Rover.
Astronomers have captured the first close-up image of a star beyond our galaxy, taken during a dramatic moment near the end of the star’s life. In it, the 'behemoth' star appears to puff out gas and dust, a critical final step before exploding in a supernova.
A rare kind of fruit fly has been caught by U.S. Customs and Border Protection (CBP) agriculture specialists at Detroit Metro Airport.
Taylor Swift is officially back in Toronto for round two. The popstar princess's motorcade was seen driving along the Gardiner Expressway on Tuesday afternoon, making its way to the downtown core ahead of night four of ‘The Eras Tour’ at the Rogers Centre.
A musical gem was recently uncovered from the vaults of the Luther Vandross Estate — a soulful, never-before-heard rendition of The Beatles' song 'Michelle.'
Pamela Hayden, the longtime voice actor behind Milhouse Van Houten — Bart Simpson's very uncool friend — is stepping away after 35 years of whining.
A temporary pause on charging the federal sales tax on many items has retailers excited, even though they say preparing for the relief will mean a lot of extra work in a short period of time.
The US government formally proposed a partial breakup of Google on Wednesday, urging a federal judge to force a sale of the company’s Chrome web browser after a landmark ruling this year found that Google had violated US antitrust law with its search business.
McDonald's Canada says espresso-based drinks and hot chocolate are temporarily unavailable at some of the chain's restaurants as it copes with a potential equipment issue.
The world's tallest woman and the world’s shortest woman have met for afternoon tea in London to celebrate Guinness World Records Day.
Sandra Kroek and her grandson Remington spent 200 hours painting a massive Star Wars mural together.
CTVNews.ca wants to hear from digital nomads who have taken up location-independent jobs and can work from anywhere with an internet connection.
Sea Bears centre Chad Posthumus has died at age 33.
It’s fair to say 2024 has been quite a year for Italian tennis, especially for Jasmine Paolini who capped the best season of her career by winning the decisive match in the Billie Jean King Cup Finals against Slovakia to secure Italy’s first title in 11 years.
Major League Baseball will test robot umpires as part of a challenge system during spring training at 13 ballparks hosting 19 teams, which could lead to regular-season use in 2026.
Northvolt AB has filed for bankruptcy protection in the United States, but said the move will not jeopardize the manufacturer's planned electric vehicle battery plant in Quebec — though hundreds of millions of taxpayer dollars invested in the parent company could be lost.
Canadian drivers are regularly in a hurry to get to their destination and a majority are willing to take unnecessary risks on the road, according to the results of a new survey.
A man from B.C.’s Lower Mainland who was scammed while selling his Porsche Cayenne online is sharing his cautionary tale – while calling for increased protections from the government.
After driving near the water that winter day, Brian Lavery thought he saw a dog splashing in the waves – then realized it was way too cold for that.
Toronto radio and podcast host Jax Irwin has recently gone viral for videos of her cute -- and at times confusing -- phone conversations.
Two young women from New Brunswick have won one of the most prestigious and sought-after academic honours in the world.
Stretching 3,000 kilometres from the tip of New Zealand to its southernmost point, with just a bicycle for transport and a tent to call home, bikepacking event Tour Aotearoa is not for the faint of heart.
When he first moved to his urban neighbourhood, Barry Devonald was surprised to be welcomed by a whole flock of new neighbours.
When George Arcioni began renovating his kitchen last summer, he didn’t expect to find a stack of letters hidden in the wall behind his oven.
A Nova Scotia couple fulfilled their wildest dreams Thursday night when they got engaged at Taylor Swift’s Eras Tour in Toronto.
Some Calgary residents caught what appeared to be a meteor streaking across the sky early on Wednesday morning.
Four years ago, Phill Hebb started up 'Phil’s Unique Birdhouses' and since then, they’ve made their way all across Canada and into the United States.
The B.C. RCMP has begun its rollout of police-worn cameras, and officers with the Mission detachment will be the first to use them next week.
A man from B.C.’s Lower Mainland who was scammed while selling his Porsche Cayenne online is sharing his cautionary tale – while calling for increased protections from the government.
Vancouver Island’s major crime unit is investigating the case of a Victoria teenager whose death was initially ruled an accidental overdose, but has since been reclassified by coroners as a homicide.
Taylor Swift is officially back in Toronto for round two. The popstar princess's motorcade was seen driving along the Gardiner Expressway on Tuesday afternoon, making its way to the downtown core ahead of night four of ‘The Eras Tour’ at the Rogers Centre.
The mother of an infant who died after being found at an apartment building in midtown Toronto on Wednesday has been charged with failing to provide the necessaries of life.
Canadians will soon receive a temporary tax break on several items, along with a one-time $250 rebate, Prime Minister Justin Trudeau announced Thursday.
Calgary police are seeking information in relation to a Tuesday fire in Hillhurst that they believe was deliberately set and allegations it could be connected to a frightening Bitcoin scam.
Calgary police are looking for dash-cam footage as they investigate a shooting in the community of Cityscape believed to be the result of road rage.
Two people are facing charges in a string of Calgary carjackings that saw thieves steal – and attempt to steal – multiple vehicles in less than an hour.
The student union at the University of Ottawa says it will consider pulling its participation from the U-Pass, which provides discounted transit fares for students, if the city goes forward with hiking student transit fees and violating the program’s contract.
McDonald's Canada says it has not closed the door on a return to Ottawa's downtown.
Canadians will soon receive a temporary tax break on several items, along with a one-time $250 rebate, Prime Minister Justin Trudeau announced Thursday.
The lobby of Concordia University’s Hall Building was flooded with pro-Palestinian protesters Thursday as others gathered and chanted outside the campus as part of Quebec-wide solidarity strikes.
Quebec Finance Minister Eric Girard tabled an economic update on Thursday with $2.1 billion in new spending over five years amid what he described as a stronger-than-expected recovery from last year's economic slowdown.
Northvolt AB has filed for bankruptcy protection in the United States, but said the move will not jeopardize the manufacturer's planned electric vehicle battery plant in Quebec — though hundreds of millions of taxpayer dollars invested in the parent company could be lost.
Dale McFee will retire as head of the Edmonton Police Service (EPS) on Feb. 21, the Edmonton Police Commission said in an email on Wednesday.
The Alberta government will announce new automobile insurance reforms Thursday afternoon.
Alberta is forecasting a $4.6-billion surplus for this fiscal year, but Finance Minister Nate Horner says "mounting pressures" threaten to soon put the province in the red.
Canadians will soon receive a temporary tax break on several items, along with a one-time $250 rebate, Prime Minister Justin Trudeau announced Thursday.
A high school on Prince Edward Island is removing pictures of its late students from a memorial wall – a decision that has upset one mother whose daughter attended the school.
A 36-year-old Fredericton man is facing several charges, including forcible confinement, after police say five people were taken hostage in the city.
Manitoba RCMP have issued a Canada-wide arrest warrant for the semi-driver involved in a crash that killed an eight-year-old girl and her mother.
Sea Bears centre Chad Posthumus has died at age 33.
Canadians will soon receive a temporary tax break on several items, along with a one-time $250 rebate, Prime Minister Justin Trudeau announced Thursday.
Evraz North America says an investigation is underway after a contractor was fatally injured while on the job in Regina on Nov. 19.
The Regina Pats have announced a blockbuster trade Thursday that sees captain Tanner Howe on his way to Calgary to play for the Hitmen as the team continues rebuilding for the future.
The Grey Cup Champion has officially been crowned for the 2024 season and once again it did not go to the Saskatchewan Roughriders. On Thursday, General Manager, Jeremy O'Day, spoke to media to break down another year.
A busy Kitchener street could be closed for several hours after a crash involving a Grand River Transit vehicle.
Canadians will soon receive a temporary tax break on several items, along with a one-time $250 rebate, Prime Minister Justin Trudeau announced Thursday.
Four members of the Hells Angels Motorcycle Club and one member of the Red Devils Motorcycle Club are facing robbery and weapons charges as part of an ongoing investigation.
Alberta-based non-profit the Mustard Seed is stepping up to run Saskatoon's Lighthouse.
As Saskatoon recovers from Monday night’s snowstorm, community organizations are stepping up to provide shelter and support to those experiencing homelessness.
A 15-year-old girl who was set on fire at a Saskatoon high school earlier this fall is still recovering in hospital.
After years of delays, the province has pulled the plug on an addiction treatment centre in North Bay. A news release from Canadore College on Thursday confirmed the centre won’t be moving forward.
Canadians will soon receive a temporary tax break on several items, along with a one-time $250 rebate, Prime Minister Justin Trudeau announced Thursday.
The City of Elliot Lake said Thursday it has received a $3-million donation from Edward and Suzanne Rogers for the Centennial Arena restoration.
It’s almost as expensive to live in Exeter as it is in downtown Toronto - that’s according to a recent report from the Ontario Living Wage Network.
Police say that on Thursday, November 21 between the hours of 1:30 a.m., and 4:30 a.m. the suspect came and went from a residence on Conway Drive.
A 21-year-old Goderich man is facing more than 20 criminal charges related to sex crimes, and police believe there may be more victims.
Radon is the number one cause of lung cancer in non-smokers in Canada, according to Grey Bruce Public Health Unit.
It was a busy morning on Sideroad 5 after a driver witnessed two collisions which police say were caused by poor road conditions.
Emergency crews had to rescue one person trapped inside a vehicle after a rollover collision in Oro-Medonte Thursday morning.
Windsor police are asking for the public’s help identifying a suspect wanted in connection to an alleged serious assault that happened this past summer.
Essex County OPP have shut down an illegal cannabis storefront in Leamington and seized $13,500 in products.
A recent ruling by the NCAA allowing major junior hockey players to maintain college eligibility is starting to change the hockey landscape.
Vancouver Island’s major crime unit is investigating the case of a Victoria teenager whose death was initially ruled an accidental overdose, but has since been reclassified by coroners as a homicide.
One person is dead after a fire that destroyed a home in Nanaimo's south end Wednesday morning.
Another fall storm is forecast to bring high winds to B.C.’s South Coast on Friday, Environment Canada says.
Police are appealing for information on a targeted shooting that resulted in the hospitalization of a man in Kamloops.
British Columbia's independent police watchdog has cleared officers of wrongdoing in a crash where three people were killed south of Kamloops in July of last year.
A B.C. woman who stole more than $14,000 in volunteer-raised funds that were supposed to be spent on school supplies and programs – including hot meals for vulnerable kids – won't spend any time in jail.
B.C. RCMP say one person was killed in a head-on crash on the Trans-Canada Highway near Salmon Arm on Wednesday.
There’s a new way to give this holiday season.
Lethbridge police say four teenagers have been arrested in connection with an autumn attack that saw a 16-year-old badly injured.
The City of Elliot Lake said Thursday it has received a $3-million donation from Edward and Suzanne Rogers for the Centennial Arena restoration.
Students in Sault College’s business accounting program have a new learning pathway that will ultimately give them a head start to a career.
The Transport Safety Board of Canada says the crew of a Porter Airlines flight landing in Sault Ste. Marie in April 2023 didn't realize the plane was so far down the runway.
A Newfoundland energy company's embrace of data centres is raising doubts about eastern Canadian hopes of harnessing the region's howling winds to supply Germany with power from green hydrogen.
An international group led by a Canadian is in Rome this week to push the Catholic Church to adopt a zero-tolerance policy on abuse by clergy.
A company hoping to build a multi-billion-dollar wind-to-hydrogen project in western Newfoundland is eyeing other options as Canada's plans to supply Europe with green energy have not yet materialized.
The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us.
