Trump to Take the Stand Again in Civil Fraud Trial as New York AG Seeks $300 Million and Business Ban

Former President Donald Trump is set to testify again next month in his civil fraud trial, according to his lawyers. Defense attorney Christopher Kise announced that Trump will return to the witness stand on December 11, where his own attorneys will open the questioning. This will allow them to explore a wider range of subjects compared to the previous cross-examination. Trump was initially called to testify by his adversaries in the lawsuit, the New York attorney general's office, which accuses him and his company of misleading lenders and insurers by inflating his asset values and net worth on financial statements.

However, Trump vehemently denied these claims, asserting that he is worth billions of dollars more than what the statements indicate. He labeled the suit as fraudulent, stating, "The fraud is her," referring to Attorney General Letitia James. The trial, now in its second month, is shedding light on Trump's real estate empire and its significance in his public and political life. Trump argues that James, a Democrat, is attempting to sabotage his potential 2024 presidential campaign. At the core of the case are Trump's annual statements of financial condition from 2014 to 2021, which were used to secure loans and other deals.

A Trump Organization executive testified that the company no longer produces such statements. While various audits and financial reports specific to some components continue to be prepared, there is no comprehensive financial statement for the entire company. The executive, Mark Hawthorn, clarified that these comprehensive reports are not required by any current lenders or constituents. Hawthorn, a certified public accountant, has been employed by the Trump Organization's hotel arm since 2016. He corrected an earlier statement made by Executive Vice President Donald Trump Jr., who referred to Hawthorn as the finance guy responsible for all financial decisions within the Trump Organization.

Hawthorn clarified that he does not hold all decisional responsibilities. The defense argues that various companies under the Trump Organization have produced extensive financial documents that have not raised any concerns. However, the attorney for James' office emphasized that the trial primarily focuses on Trump's overall statements of financial condition, deeming the other documents irrelevant. Trump maintains that his wealth was understated, not overstated, on his financial statements. He also points out that the statements come with disclaimers stating that they were not audited and that others may interpret the financial position differently.

Judge Arthur Engoron, who will ultimately decide the verdict in this non-jury trial, has previously ruled that Trump and other defendants engaged in fraud. The current proceedings will determine remaining claims of conspiracy, insurance fraud, and falsifying business records. James seeks to impose penalties exceeding $300 million and ban Trump from conducting business in New York. Additionally, Engoron's pretrial order to place some of Trump's properties under a receiver's control has been temporarily frozen by an appeals court.