I’m not certain I understand your question. Based on the lawyer’s comments, it looks like if Trump loses the case, he’ll be subject to losing control of his properties and face fines. If the fines are big enough, Trump might not have enough money to save Mar-a-Lago. He could claim Mar-a-Lago as his principle residence to shield it from the bankruptcy claims but in order to do that he would have to be considered a natural person and claim Florida as his place of residence. Since Mar-a-Lago is owned by shell corporations that have lost their business licenses, he might not be able to make that claim.
I think the lawyer is forecasting quite a bit ahead. I’m not following this too closely, but I’m thinking that Trump can still appeal on this judgment.
Here’s the part about Trump using the residence exception to shield Mar-a-Lago from bankruptcy.
I just looked up this publication, Newsweek. It used to be a reputable publication, but it has been through a lot of changes in the last couple decades. Last year, it was called out as having taken a radical right turn by the Southern Poverty Law center. I don’t know if these articles were affected by that.
Trump’s team did not question him during his first appearance. His lawyers will be trying to make their case that lenders were not harmed by and had actively sought out relationships with the Trump family. In testimony so far, the Trumps have downplayed the importance of the financial statements, saying they were exclusively handled by the organization’s accountants and legal departments and that the family typically had enough cash on hand to conduct deals.
Though they were presented with multiple documents showing they were consulted over the financial statements and had signed off on deals where the statements were used to affirm the family’s net worth, the Trumps said they did not recall working on or using the statements.
The morning testimony opened with several minutes of camera clicking - a reminder that there are two audiences who will pass judgement on this trial, Judge Engoron and the wider public.
Don Jr’s statements are directed, at least partially, toward the latter, and firming up the myth of the Trump family as aligned to the common man.
In his own telling, he is a regular guy, who had worked as a bartender and his father’s company operated as a “meritocracy” where he was able to rise due to his energy and charm. (1)
The prosecution has made their first objection of the day. The defence is showing a document to go through the “Trump story”.
State lawyer Colleen Faherty objects to what she says appears to be a hearsay document.
The judge sides with the defence. Trump is now walking the court through his family’s history and the start of the business.
For the generations that do not remember Donald Trump’s rise as a Manhattan developer, Don Trump Jr is offering a retelling of this story.
He’s describing Trump tower as the breakthrough 1983 project that launched his father’s career, recalling it as the “first time he changed the skyline”.
“It would be one of the first great examples of ultra-luxury real estate emerging in Manhattan - the project by which all future high-end residential condominiums would have been judged,” he said.
Don Jr frequently speaks in glowing terms about his father, Donald Trump. He has called him a “genius” and an "artist with real estate” who uses property as his “canvas”. He also says “my father was on the leading edge of creating… value”.
I read that after the Trump Jnr slide show of the redacted history of the greatness of Trump, the judge complained that he’d had to listen to hours of irrelevant testimony. Going well for the Trump boys then…
The court case seemed to pause after that but recently:
Donald Trump has assailed a judge and clerk handling his New York fraud trial as a gag order banning him from criticising court personnel was paused.
A state intermediate appeals court has granted what is known as an interim stay. Judge David Friedman cited the “constitutional and statutory rights at issue” in Thursday’s ruling. It means that, for now, Mr Trump and his lawyers can once again make public comments about the court officials.
The former president wasted little time in reopening attacks on Judge Engoron, calling his actions “Radical and Unprecedented”.
“His Ridiculous and Unconstitutional Gag Order, not allowing me to defend myself against him and his politically biased and out of control, Trump Hating Clerk, who is sinking him and his Court to new levels of LOW, is a disgrace,” the 77-year-old wrote in a lengthy post on social media.
Donald Trump renewed attacks on the wife of the judge in the New York civil fraud trial of his business empire, before and almost immediately after an appellate court on Thursday reinstated a gag order against him in the case.
The New York appellate court decided to reapply the gag order that barred the former US president and his lawyers from making public statements about court staff in his civil fraud trial, court records showed.
Trump on Wednesday attacked Dawn Engoron, the wife of the judge, Arthur Engoron, and the judge’s clerk, on his social media platform Truth Social.
He called Dawn Engoron a “Trump hating wife” and said that she and Arthur Engoron’s law clerk had “taken over control of the New York State Witch Hunt Trial aimed at me, my family, and the Republican Party”.
On Thursday, the gag order against him, which had been paused two weeks ago, was reinstated, but it did not stop Trump lashing out further. The order only specifies comments about members of Judge Engoron’s staff, not his family.
Trump posted screenshots of vulgar and profane anti-Trump messages on X, formerly known as Twitter, purported to have been made by Dawn Engoron – prompting her swiftly to assert that she does not have an account.
“I do not have a Twitter account. This is not me. I have not posted any anti-Trump messages,” Dawn Engoron told Newsweek.
What a repulsive figure Trump is - he’s already lost the legal case so he’s taken to abusing those “against” him, even if they’re not involved …
Were he not white and an ex-president then I’m sure that he would have been banged-up by now …
This after his lawyer saying previously that,“He will take the stand on Monday,he is not afraid,people that are afraid cower .President Trump doesn’t cower…”
Apart from anything else he’s thrown someone who works for him under a bus again
His about-face all but ends the lengthy and chaotic proceedings in the fraud trial, which began in early October. A defense witness, Eli Bartov, an accounting professor at New York University, is instead expected to conclude the defense’s case, to be followed by several rebuttal witnesses called by the attorney general’s lawyers. In January, both parties are expected to file final briefs, after which, the trial judge, Arthur F. Engoron, is expected to deliver his ruling.
Just a few formalities left before a break for Xmas, then …
After speculation over whether the former US president would make a statement, the judge shared emails showing he had not agreed to limits on what he could say.
“Take it or leave it,” the judge told Mr Trump’s lawyers. “Now or never.”
Mr Trump’s civil fraud trial is resuming in New York City on Thursday, when lawyers for both sides are set to make their closing arguments.
Mr Trump is still expected to appear in court on 11 January for the conclusion of the trial, which began in October.
Certainly the judge is setting out the rules for Trump who has repeatedly broken instructions not to comment on trial officials. However, I suspect that Trump will be quite happy with this decision to not speak at the trial. It means that afterwards he can claim he was denied his right to speak. No doubt that will form part of his appeal - unfair treatment and judgement.
The New York fraud trial had been on a nearly month-long break for the holidays since December after 11 weeks of witness testimony. It is unclear when Engoron will issue a verdict, though he has indicated he will make a decision by the end of the month. Because the trial is a bench trial, there is no jury, and Engoron is the sole decider of the case.
What’s happened so far on the closing day of his civil fraud trial:
The day started with a threat against Judge Arthur Engoron’s home, with officers saying they arrived on the scene at 05:30 local time (10:30 GMT)
Trump arrived at court, called the trial a “terrible witch hunt” and claimed it was “political interference” by the White House, which he said should not be allowed
The former US president’s lawyers were up this morning, calling the case “manufactured” and alleging Attorney General Letitia James was trying put Trump out of business
Lawyer Chris Kise tried to blame accountants for the fraud, claimed Trump’s Florida property Mar-a-Lago was eligible to be valued as a single family home and said it was an error by a real estate agent that listed the former president’s penthouse in Trump Tower as three times its size
During a break, Trump told reporters that other companies are going to be moving out of New York “because of what is happening here”
And then in a surprise move, Donald Trump got a chance to speak in court, something the judge said yesterday wouldn’t happen because Trump hadn’t agreed to his conditions
Trump used the opportunity to say the case was “a fraud” on him, claiming it was election interference as the state of New York would “want to make sure I don’t win again”
Trump spoke uncharacteristically fast after Judge Engoron gave him a few minutes to speak at the end of the defence’s closing just now.
He was ultimately cut off, but he used the valuable moment to claim that his “financial statements were perfect” and that the “banks got all theirs back” and were “as happy as can be”. He went on to suggest he should “receive damages for what they took this company through”, insisting that he is “an innocent man”. “The person in the room right now hates Trump,” referring to Attorney General Letitia James.
Trump also railed against the case which “doesn’t give me a jury” and “takes away all my rights”. Finally, the judge asked Kise to control his client and Trump’s closing courtroom remarks came to an end.
Trump’s lawyer Habba goes after New York Attorney General Letitia James before wrapping up her closing argument, saying we are all here because of “one person’s agenda”. She claims that the Trump employees in charge of these valuations are all human who make human errors.
“Your Honour, do you ever make a mistake?” she asks. “No,” the judge deadpans.
Habba also says she glanced at James earlier and saw that "her shoes were off this morning, and she has a Starbucks coffee”, implying the attorney general is simply enjoying this case. Engoron maintains his scepticism, stating that this line has nothing to do with the arguments. Habba argues that it is relevant to the case, however, because James does not sit up at the counsel’s table but rather “goes outside with her PR team”.
All talk and no substance from Trump and his lawyers. No evidence offered but both Trump and Habba go for the personal attacks and insults.
Alina Habba, right, is the second of Trump’s lawyers to speak today
Donald Trump is about to give a news conference at 40 Wall Street in New York - one of the buildings he is accused of fraudulently valuing. He’s just being introduced by his lawyer, Alina Habba.
The future of Donald Trump’s family business may be decided on Friday when a New York judge is expected to deliver a verdict in his civil fraud trial.
The former president, his adult sons and his namesake company have already been found liable for fraudulently inflating the value of assets in statements to lenders.
Prosecutors have asked the judge to fine Mr Trump $370m (£291m) and to put restrictions on his ability to conduct business in the state.
That’s a lot of money, even for a billionaire. Legal experts told the BBC that a penalty that large, coupled with a potential final verdict that may greatly impact his real estate empire, could deliver a serious blow to Mr Trump’s finances.
It is up to Judge Arthur Engoron to determine the financial penalties when he delivers his ruling.
Whatever the amount, Mr Trump would also have to pay annual interest on that fine, dating back several years to when the alleged offences took place. New York’s 9% interest rate means Mr Trump might have to pay an additional nine-figure sum on top of the penalty.
Mr Trump denies committing fraud and says there was no crime because the banks made money on his investments. He is expected to launch an appeal, which would put the verdict on hold until a higher court reviews the case.
But if he wants to avoid paying the fine or have personal assets seized while the appeal process plays out, he still has to deposit the full amount to be held by the court within 30 days.
On top of this looming penalty, however, he already owes the writer E Jean Carroll $83.3 million in damages from a separate defamation case that concluded in January. His legal fees are also mounting as he battles four criminal cases at the federal and state level.
No way out - the money’s got to come from somewhere.
