On Wednesday, August 30, the public gained access to a transcript detailing former President Donald Trump’s defense regarding his real estate dealings and time as president. The deposition was part of New York Attorney General Letitia James’ lawsuit against Trump over alleged fraudulent financial claims.
Attorney General James asserts that Trump exaggerated his net worth in some years by as much as 39%, totaling over $2 billion. Her legal filings accuse Trump and the Trump Organization of misleading lenders and other parties by inflating the worth of assets, with properties such as Mar-a-Lago in focus. If successful, her lawsuit could impose $250 million in penalties on Trump and prohibit him from operating businesses within New York state.
However, Trump countered these allegations. In his testimony, he emphasized his notable contributions to New York’s skyline and expressed his belief that James should dismiss the case. Furthermore, he described the financial documents, which are pivotal to the lawsuit, as essentially non-influential, contending they were for personal use rather than for financial institutions. He also conceded that certain asset valuations were based on rough estimates.
Trump’s legal representatives argue for the lawsuit’s dismissal. They point out that many of the claims have exceeded the statute of limitations and note that the purportedly misled entities haven’t raised any objections.
The former president, now a front-runner for the Republican nomination for the upcoming presidential race, has encountered various allegations in recent times. These range from purported attempts to reverse the 2020 election outcomes to withholding classified documents.
Throughout his deposition, Trump noted that his focus had transitioned from his business enterprises to international concerns during his presidency, indicating his interventions were pivotal in preventing potential global conflicts.
The lawsuit, anticipated to potentially reach trial in October, might not see Trump testifying. Nonetheless, video excerpts of his deposition could be showcased in court.