New York, NY – Closing arguments are slated to commence on Thursday morning in the civil fraud case involving Donald Trump and his company. The potential repercussions for the former president include a financial penalty of up to $370 million and a prohibition from the New York real estate industry, where he gained prominence.
Trump is anticipated to be present in state Judge Arthur Engoron’s courtroom for the proceedings. However, Engoron announced on Wednesday that Trump would not be allowed to personally deliver certain remarks as he declined to agree to abstain from personal attacks during his presentation. Preceding a town hall event in Iowa on Wednesday night, Trump took to his social media platform, Truth Social, asserting that he was being “forced” to return to New York for the closing arguments, despite not being obligated to do so. He labeled the trial as “rigged and unfair.”
New York Attorney General Letitia James, who initiated the case, alleging fraud by Trump and his company for inflating the value of assets and properties in financial documents spanning over a decade, is expected to be present in the courtroom.
Scheduled to commence shortly after 10 a.m. ET, the arguments will involve Trump’s lawyers, representing him, his two eldest sons, and their company, speaking for about two hours and 15 minutes. The AG’s lawyers will then present their case in the afternoon. Although Engoron allocated a similar amount of time for the AG’s presentation, they indicated last week that they anticipate needing only an hour. The lawsuit, filed in 2022 by James, accuses Trump, the Trump Organization, and top executives, including Eric Trump and Donald Trump Jr., of engaging in fraud after a lengthy investigation into their business practices. Engoron had previously determined that Trump and his executives had committed repeated and persistent fraud. An outstanding issue is whether there was an intent to defraud.
Trump has consistently denied any wrongdoing, asserting that his properties were worth more than the inflated financial statements indicated. He has also argued that he should not be liable for damages, as he never defaulted on loans or insurance policies.
The AG’s office contends that the Trumps gained “hundreds of millions of dollars in ill-gotten gains through their unlawful conduct” and should be liable for over $370 million. James is additionally seeking a lifetime ban preventing Trump and two top executives from participating in the state’s real estate business, along with a five-year ban on the Trump sons.
