Former US President Donald Trump attended a court hearing in New York on Monday in a case in which he, his family, and the Trump Organization business empire are accused of fraud by overstating the value of real estate.
Source: "Yevropeiska Pravda with reference to AP
The current case is led by New York State Attorney General Letitia James. The prosecutor's office claims that Trump overstated the value of his property by $3.6 billion through false statements, thus obtaining more favorable loans from banks.
The former US president and his lawyers insisted that real estate valuation cannot be objective (and therefore there is no reason to talk about overvaluation), that the profitable loans were fully repaid and therefore did not cause any damage to anyone, and that Trump's business and his partners were prospering.
At the first hearing, the prosecution and defense only read opening statements. Trump himself, who has called the trial a "fraud," a "sham," and a "witch hunt," will testify at least a few weeks later.
Author - Serhii Kolomiets, 03/10/2023