NEW DELHI: Donald Trump arrived at a state court in New York on Monday regarding a civil fraud case involving him and his family business that might shake his real estate empire.
Attorney General Letitia James‘ office lawyer Kevin Wallace claimed in his opening remarks that Trump for a decade gave financial information to banks and insurers in a “materially inaccurate way.”
The lawyer further said that he gained more than $1 billion by lying about his assets.
Trump has been accused of inflating the worth of his assets by billions of dollars to obtain better loan and insurance terms.
Letitia James, the New York Attorney General , who accused Trump of the fraud, is seeking $250 million in penalties and the removal of Trump and his sons from management of the family empire.
Assuring that “justice will prevail,” James said, “No matter how powerful you are, no matter how much money you think you may have, no one is above the law.”
Calling it a “witch hunt” and a “sham”, Trump labelled James a “racist”.
“We have a great company. I built a great company. It’s tremendous,” he said.
“It’s got some of the greatest real estate assets in the world. And now I have to go in before a rogue judge,” he added.
Expressing a “wary” faith in the system, Alina Habba, a lawyer who has represented Trump said, “We will continue to fight in hopes that there is some level of law and order.. Although my faith in the system is wary, I do have faith in Donald Trump.”
The trial comes one week after Trump and his sons Eric and Don Jr had been ruled of committing fraud by inflating the value of the real estate and financial assets of the Trump Organization for years.
Attorney General Letitia James‘ office lawyer Kevin Wallace claimed in his opening remarks that Trump for a decade gave financial information to banks and insurers in a “materially inaccurate way.”
The lawyer further said that he gained more than $1 billion by lying about his assets.
Trump has been accused of inflating the worth of his assets by billions of dollars to obtain better loan and insurance terms.
Letitia James, the New York Attorney General , who accused Trump of the fraud, is seeking $250 million in penalties and the removal of Trump and his sons from management of the family empire.
Assuring that “justice will prevail,” James said, “No matter how powerful you are, no matter how much money you think you may have, no one is above the law.”
Calling it a “witch hunt” and a “sham”, Trump labelled James a “racist”.
“We have a great company. I built a great company. It’s tremendous,” he said.
“It’s got some of the greatest real estate assets in the world. And now I have to go in before a rogue judge,” he added.
Expressing a “wary” faith in the system, Alina Habba, a lawyer who has represented Trump said, “We will continue to fight in hopes that there is some level of law and order.. Although my faith in the system is wary, I do have faith in Donald Trump.”
The trial comes one week after Trump and his sons Eric and Don Jr had been ruled of committing fraud by inflating the value of the real estate and financial assets of the Trump Organization for years.