Former President Donald Trump defended himself and his real estate empire in a closed-door grilling with the New York attorney general, Letitia James, who is suing him for fraud. Trump claimed that his company is financially stable and argued that his annual financial statements were not meant to be taken seriously. He further asserted that he saved "millions of lives by deterring nuclear war" during his presidency. The deposition transcript, consisting of 479 pages, was released by Trump's lawyers before a September 22 hearing that could potentially resolve part or all of the lawsuit.

James alleges that Trump fraudulently inflated his net worth by over $2 billion in some years. She is seeking $250 million in penalties and a ban on Trump doing business in New York. Trump's legal team is requesting the dismissal of the case, arguing that it is barred by a statute of limitations and that James lacks standing to sue. Trump has been indicted four times in the past five months on various charges, including plotting to overturn his 2020 election loss and falsifying business records. Some of his criminal trials are expected to overlap with the presidential primary season.

During the closed-door questioning, Trump repeatedly maintained that the accuracy of the financial statements he provided to banks was irrelevant, stating that he had a disclaimer indicating that they should not be relied upon. He claimed that some of the listed values were mere estimations. As Trump answered questions, his testimony veered from evasiveness to bluster and filibuster, causing one lawyer to express concern that the deposition could go on until midnight. James is urging Judge Arthur Engoron to grant summary judgment on one of the claims in her lawsuit, contending that there is ample evidence of fraud.

Engoron only needs to determine whether Trump's financial statements were misleading and whether they were used in conducting business transactions. If Engoron rules in favor of James, a non-jury trial will still be held for the remaining claims. While Trump is not expected to testify if the case goes to trial, video recordings of his depositions could be presented as evidence. Trump testified that he paid all his banks on time, even throughout the COVID-19 pandemic, emphasizing that the lawsuit's premise is flawed as the banks allegedly profited from their business dealings with him. He also argued that his focus shifted from his business to world affairs once he assumed the presidency, claiming that his handling of North Korea prevented a nuclear war.