by Massimo Gaggi
Former President Donald Trump has arrived in court in New York to testify in the trial that has already determined his guilt on fraud charges: a trial that suits him politically but could cost him economically
Furious at the judges who had indicted him as well as his business organization and his sons Donald Jr. and Eric, Donald Trump arrived in Manhattan court to answer questions from a prosecutor he had insulted multiple times (Wow! I just… discovered that corrupt and racist New York State Attorney General Letitia James was financially supported by George Soros, she wrote shortly before entering the courtroom.
Statement: I don’t know, I don’t remember
“This is a political witch hunt and I think you should be ashamed of yourself,” the tycoon began in his statement to the court, trying to dodge questions. How can something like this happen, it’s a shame.
When asked about the value of various properties, Trump often replied “I don’t know” or “I don’t remember” when Assistant Attorney General Kevin Wallace asked him if the Mar-a-Lago resort in Florida was about $1.5 billions of US dollars: The former president immediately confirmed this, but did not recall whether he had asked his former finance director to value him at the same amount. Immediately afterwards he continued and said that the resort was worth much more and we will prove it in two weeks or five weeks or nine weeks as long as the process continues.
Trump also said that banks do not pay much attention to asset documents. Wallace asked how he knew that, and he replied, “I know because I’ve been dealing with banks for fifty years.” When asked if he felt responsible for asset valuation, Trump replied: It’s been a long time , it goes beyond the statute of limitations, it applies to everyone except me, also because I’m sure the judge will convict me.
Subsequent questions focused on the value of the Aberdeen golf course in Scotland. Trump began ranting that Aberdeen was an oil capital, which made the property valuable. The former president avoided answering direct questions and spoke about the property, claiming that he believed it was the largest golf course ever built. He then began to describe his condition, although the judge deemed these statements irrelevant.
There were numerous tense moments that characterized the first part of the hearing. As the testimony progressed, the former president did not answer a question about the value of his $550 million 40 Wall Street real estate, but continued with his political asides. Please check for yourself if you can. If he can’t do that, he’ll dismiss her from the witness stand, this isn’t a demonstration, the judge replied impatiently.
On Wednesday it’s Ivanka’s turn
On Wednesday it is her daughter Ivanka’s turn (only questioned as a witness: unlike her brothers, she will not be charged). Then the process that began five weeks ago will quickly move towards completion.
The former president has been following the courtroom hearings for days, even if his presence is not necessary because the civil case is directed more against his company than against him personally. Aware that his physical presence increased his popularity among fans of Trumpism, The Donald not only attended various stages of the trial, but also continued to antagonize the judges, describe himself as a persecuted person and then take advantage of the situation, to raise new funds from its supporters. Meanwhile, on his platforms such as Truth Social, he continued to attack the judges putting him on trial, so much so that after the gag order, the formal warning against insulting or threatening jurors, witnesses and the judges themselves, he initially withdrew was fined $5,000, then $10,000 for violating court orders.
Witch hunt
Trump appeared particularly uneasy and outraged by a trial (he continues to call it a witch hunt) that suits him politically (the polls continue to reward him) and for which he does not risk prison time, but which could cost him very dearly on an economic level: the loss of a significant portion of his assets and, most importantly, the prohibition from doing business in New York State. This would mean no longer operating in the area where it has the most important real estate.
This time, there isn’t even a jury to pander to: the single-judge rule applies to civil cases of this kind: Manhattan Supreme Court Justice Arthur Engoron will deliver the verdict. Which will certainly be guilty, because the judge already announced during the trial that he had collected evidence of the guilt of the Trump Organization, which was accused of increasing the value of its assets by billions of dollars in order to obtain more favorable bank loans and insurance conditions (according to prosecutors, up to $3.6 billion in three different years between 2011 and 2021).
It’s just a matter of understanding how serious the financial and tax crimes are (inflated balance sheet values in order to get better conditions from banks and tax breaks) and how high the punishment will be: there is a risk of fines of up to 250 million euros.
November 6, 2023 (modified November 6, 2023 | 7:28 p.m.)
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