Podcast Summary
Donald Trump admits to fraudulent financial schemes outside courtroom during civil trial: Trump admitted to fraudulent financial schemes outside courtroom, attacked judge and AG, and could face shutdown of all businesses due to fraudulent activities
During the first day of the civil fraud trial against Donald Trump and his associates in the New York attorney general's office, Donald Trump admitted to the fraudulent financial valuation schemes he is being charged with outside the courtroom. He claimed that some properties were undervalued by the judge and that his brand, which he didn't include in his financial statements, is extremely valuable. Trump also attacked the judge and New York Attorney General Letitia James during the trial. This trial is significant as it could lead to the shutdown of all of Trump's businesses due to the fraudulent activities. The judge in the case, Goran, has already granted partial summary judgment against Trump, leading to the cancellation and dissolution of his business entities. The trial is now focused on determining the remaining causes of action and the damages portion, known as disgorgement claims. Trump's behavior during the trial, including his admission to the fraud and attacks on the judge and attorney general, is not typical or advisable when facing a serious lawsuit.
Trump's Property Valuations Dispute in Trial: Trump's inconsistent property valuations in his ongoing trial raise questions of potential fraud, as he previously included his brand in evaluations but claimed higher values than ruled by judge and tax appraiser. His accusations of bias against the judge and AG add fuel to controversy.
During the ongoing trial, Donald Trump has been accused of underreporting the value of his properties, including Mar-a-Lago, for tax purposes. He claimed the value of Mar-a-Lago to be much higher than what was ruled by the judge and the tax appraiser. However, Trump had previously admitted to including his brand in the evaluations of his properties. The inconsistency between his stated and actual property valuations raises questions about potential fraud. Additionally, Trump labeled the judge and New York Attorney General Letitia James as biased against him, further fueling the controversy surrounding the trial.
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New York AG Letitia James: No One is Above the Law: New York AG Letitia James is pursuing legal action against Donald Trump for allegedly inflating property values, emphasizing that no one, including Trump, is above the law.
That New York Attorney General Letitia James emphasized during her press conference that no one, including Donald Trump, is above the law. Trump has been accused of making fraudulent valuations of his properties, including Mar-a-Lago, with valuations changing from $600 million to over $1 billion. During the trial, Trump and his associates denied any involvement in preparing the financial statements. Michael Cohen, a former Trump associate, testified that Trump wanted to inflate property valuations to appear higher on lists like Forbes. The trial began with depositions from the Trumps and Cohen, with all parties denying responsibility for the financial statements. James reiterated her commitment to enforcing the law and ensuring justice prevails, emphasizing that power and wealth do not exempt individuals from legal consequences.
Accountability is non-negotiable: AG James' message in Trump trial: Attorney General James oversaw the trial against Trump for alleged fraudulent real estate valuations. Trump's team present. AG's message: no one is above the law. Expected fine: $100M+, Trump has $400M cash on hand.
Accountability is non-negotiable, regardless of wealth or power. New York Attorney General Letitia James made this clear as she oversaw the trial against former President Donald Trump for alleged fraudulent real estate valuations. Trump's legal team, including Christopher Kais, and Alina Haba, were present in the courtroom. James' message was clear: no one is above the law. The trial is expected to result in a substantial fine against Trump, potentially reaching $100 million, based on the evidence presented. Trump reportedly has around $400 million in cash on hand, leaving a significant financial impact. This is the first update from The Midas Touch Network on this developing story. Stay tuned for more updates and follow us on Instagram @MidasTouch for the latest news. If you'd like to support our platform, visit patreon.com/midastouch.
