Former President Donald Trump and New York Attorney General Letitia James.

Live updates: Trump’s New York fraud trial begins

What to know about Trump’s fraud trial

  • A $250 million civil fraud lawsuit brought by New York Attorney General Letitia James against former President Donald Trump, his company and two of his adult sons is set to go to trial today.
  • The case, which could last almost three months, will be decided by Judge Arthur Engoron.
  • Trump plans to make an appearance in court today and tomorrow, two people briefed on the matter told NBC News last week.
  • The judge last week ruled that Trump and his associates for years committed acts of fraud, including both overestimating and underestimating his net worth by billions for his own benefit.

0m ago / 1:19 PM UTC

James plans to be in court on Monday 

Jesse Rodriguez

James plans to be in the courtroom tomorrow for the start trial, according to a person familiar with James’ plans. This sets up a potential face-off between James and Trump, who said he plans to be in the New York County courthouse. 

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Copied18m ago / 1:02 PM UTC

James alleges some well-known Trump properties were overvalued by the organization

Summer Concepcion

In her lawsuit against Trump and his company, James alleges the former president issued fraudulent statements that falsely inflated the value of almost two dozen properties and assets owned by him and the Trump Organization.

Some of the assets and tactics allegedly used to inflate their values include:

  • Trump Tower: Trump’s triplex apartment was valued at 30,000 square feet, but in reality was only 10,996 square feet. The apartment was therefore erroneously valued at $326 million in 2015 — more than three times the value of the most expensive apartment ever sold in New York City, according to the attorney general’s office.
  • Trump Park Avenue: Trump allegedly inflated the value of the property in part by valuing rent-stabilized condominium units at market rate and bypassing outside valuations. The AG’s office noted that an outside bank-ordered appraisal valued 12 rent-stabilized units in the building at $750,000 total in 2010. However, the untested were valued at almost $50 million total in 2011 and 2012 statements.
  • Mar-a-Lago: Trump’s Florida resort was valued as high as $739 million, allegedly based on false claims that it could be developed and sold for residential use. Trump, however, signed deeds donating his residential development rights, restricting changes to the property and limiting the use of the property to a social club, according to the AG’s office.
  • Trump Aberdeen: The valuation of the golf course, located in Aberdeen, Scotland, was based on the assumption that 2,500 homes could be developed, but the Trump Organization obtained zoning approval to develop fewer than 1,500 cottages and apartments. And many of those were expressly identified solely as short-term rentals, the AG’s office said.
  • Trump National Gold Club in Jupiter, Florida: Trump purchased the golf court for $5 million, but less than a year later he valued it at $62 million on the 2013 statement, which amounted to a $1,100% markup. Trump allegedly used several deceptive methods to fraudulently overstate the value of the property, such as adding an additional 30% to its value for the Trump brand in 2013 and 2015, and 15% from 2015 through 2020, according to the AG’s office.
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Copied45m ago / 12:34 PM UTC

Trump says he’ll be in court to ‘fight for my name and reputation’

Summer Concepcion

Trump said he will be in court in New York for the start of his civil fraud trial in a post on his Truth Social platform last night.

He also took aim at James, who brought the $250 million lawsuit against Trump and his company, and Engoron, who will decide the case.

“I’m going to Court tomorrow morning to fight for my name and reputation against a corrupt and racist Attorney General, Letitia James, who campaigned on ‘getting Trump,’ and a Trump Hating Judge who is unfair, unhinged, and vicious in his PURSUIT of me,” Trump wrote.

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Copied1h ago / 12:09 PM UTC

N.Y. judge ruled Trump committed fraud and lied about net worth for years

Adam Reiss, Jonathan Dienst, Chloe Atkins and Dareh Gregorian

A New York judge ruled in the state attorney general’s $250 million lawsuit against Trump and his company last week that the former president committed repeated acts of fraud for years.

According to the ruling, which allowed the civil trial to begin this week, Trump lied to banks and insurers by both overvaluing and undervaluing his assets when it was to his benefit, while exaggerating his net worth to the tune of billions of dollars.

In his 35-page ruling, Engoron said Trump continually lied on his financial statements and was able to get favorable loan terms and lower insurance premiums as a result. Trump’s legal arguments defending the statements are based in “a fantasy world, not the real world,” he wrote.

Read the full story here.

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Copied1h ago / 12:09 PM UTC

Trump civil fraud trial gets underway in New York

Zoë Richards

A $250 million civil fraud lawsuit brought by the New York attorney general’s office against Trump, his company and two of his adult children is set to go to trial today in a case that could have widespread implications for the former president’s businesses.

The no-jury trial in Manhattan is expected to last about three months, concluding by Dec. 22, and will be decided by Engoron.

The ruling, which allowed the case to go to trial this week, will also have practical repercussions for Trump’s numerous limited liability companies, or LLCs. The judge’s order set in motion a dissolution process for entities like Trump Organization LLC, which has helped expand the Trump brand over the years.

A court officer walks down the stairs in front of the New York Supreme Court in preparation for former President Donald Trump's arrival on Monday, Oct. 2, 2023.A court officer walks down the stairs in front of the New York Supreme Court in preparation for former President Donald Trump’s arrival Monday.Seth Wenig / AP

Read the full story here.

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Copied NEWUPDATESNBC News0m ago / 1:19 PM UTC

James plans to be in court on Monday 

Jesse Rodriguez

James plans to be in the courtroom tomorrow for the start trial, according to a person familiar with James’ plans. This sets up a potential face-off between James and Trump, who said he plans to be in the New York County courthouse. 

  • Share this –

Copied18m ago / 1:02 PM UTC

James alleges some well-known Trump properties were overvalued by the organization

Summer Concepcion

In her lawsuit against Trump and his company, James alleges the former president issued fraudulent statements that falsely inflated the value of almost two dozen properties and assets owned by him and the Trump Organization.

Some of the assets and tactics allegedly used to inflate their values include:

  • Trump Tower: Trump’s triplex apartment was valued at 30,000 square feet, but in reality was only 10,996 square feet. The apartment was therefore erroneously valued at $326 million in 2015 — more than three times the value of the most expensive apartment ever sold in New York City, according to the attorney general’s office.
  • Trump Park Avenue: Trump allegedly inflated the value of the property in part by valuing rent-stabilized condominium units at market rate and bypassing outside valuations. The AG’s office noted that an outside bank-ordered appraisal valued 12 rent-stabilized units in the building at $750,000 total in 2010. However, the untested were valued at almost $50 million total in 2011 and 2012 statements.
  • Mar-a-Lago: Trump’s Florida resort was valued as high as $739 million, allegedly based on false claims that it could be developed and sold for residential use. Trump, however, signed deeds donating his residential development rights, restricting changes to the property and limiting the use of the property to a social club, according to the AG’s office.
  • Trump Aberdeen: The valuation of the golf course, located in Aberdeen, Scotland, was based on the assumption that 2,500 homes could be developed, but the Trump Organization obtained zoning approval to develop fewer than 1,500 cottages and apartments. And many of those were expressly identified solely as short-term rentals, the AG’s office said.
  • Trump National Gold Club in Jupiter, Florida: Trump purchased the golf court for $5 million, but less than a year later he valued it at $62 million on the 2013 statement, which amounted to a $1,100% markup. Trump allegedly used several deceptive methods to fraudulently overstate the value of the property, such as adding an additional 30% to its value for the Trump brand in 2013 and 2015, and 15% from 2015 through 2020, according to the AG’s office.
  • Share this –

Copied45m ago / 12:34 PM UTC

Trump says he’ll be in court to ‘fight for my name and reputation’

Summer Concepcion

Trump said he will be in court in New York for the start of his civil fraud trial in a post on his Truth Social platform last night.

He also took aim at James, who brought the $250 million lawsuit against Trump and his company, and Engoron, who will decide the case.

“I’m going to Court tomorrow morning to fight for my name and reputation against a corrupt and racist Attorney General, Letitia James, who campaigned on ‘getting Trump,’ and a Trump Hating Judge who is unfair, unhinged, and vicious in his PURSUIT of me,” Trump wrote.

  • Share this –

Copied1h ago / 12:09 PM UTC

N.Y. judge ruled Trump committed fraud and lied about net worth for years

Adam Reiss, Jonathan Dienst, Chloe Atkins and Dareh Gregorian

A New York judge ruled in the state attorney general’s $250 million lawsuit against Trump and his company last week that the former president committed repeated acts of fraud for years.

According to the ruling, which allowed the civil trial to begin this week, Trump lied to banks and insurers by both overvaluing and undervaluing his assets when it was to his benefit, while exaggerating his net worth to the tune of billions of dollars.

In his 35-page ruling, Engoron said Trump continually lied on his financial statements and was able to get favorable loan terms and lower insurance premiums as a result. Trump’s legal arguments defending the statements are based in “a fantasy world, not the real world,” he wrote.

Read the full story here.

  • Share this –

Copied1h ago / 12:09 PM UTC

Trump civil fraud trial gets underway in New York

Zoë Richards

A $250 million civil fraud lawsuit brought by the New York attorney general’s office against Trump, his company and two of his adult children is set to go to trial today in a case that could have widespread implications for the former president’s businesses.

The no-jury trial in Manhattan is expected to last about three months, concluding by Dec. 22, and will be decided by Engoron.

The ruling, which allowed the case to go to trial this week, will also have practical repercussions for Trump’s numerous limited liability companies, or LLCs. The judge’s order set in motion a dissolution process for entities like Trump Organization LLC, which has helped expand the Trump brand over the years.

A court officer walks down the stairs in front of the New York Supreme Court in preparation for former President Donald Trump's arrival on Monday, Oct. 2, 2023.A court officer walks down the stairs in front of the New York Supreme Court in preparation for former President Donald Trump’s arrival Monday.Seth Wenig / AP

Read the full story here.

  • Share this –

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