October 2, 2023 - Trump civil fraud trial in New York begins

New York Attorney General Letitia James said in a short statement Monday morning, "My message is simple: No matter how powerful you are, no matter how much money you think you may have, no one is above the law."

The attorney general noted that last week, a state Supreme Court judge found Trump and his co-defendants liable for fraud for grossly inflating asset valuations on financial statements. The trial that begins today will determine the amount of damages owed.

Watch the moment here:

The civil fraud trial that former President Donald Trump will attend today is in the large third floor courtroom: room 300 of the 60 Centre Street building.

Paintings on the wall depict the early courts of New York City, including the popular law courts of New Netherlands in the 1600s.

There are various computer display screens arranged for the parties, and two large screens for the court and the gallery.

There are nine rows of wood benches, with two aisles and some chairs on the side. Altogether, available seating exceeds 100 people.

People are still arriving.

Former President Donald Trump departed from Trump Tower and is en route to a New York City courthouse to attend the first day of the civil fraud trial against him, his eldest sons, their companies and Trump Organization executives.

More on the trial: Opening statements in the trial over inflated assets will begin today. The trial comes less than a week after a ruling that found Trump and his co-defendants liable for "repeated" fraud.

The former president, his adult children and his closest business advisers are all listed as potential witnesses for both the New York attorney general and the defense. Being listed as a potential witness, however, does not mean they will be called to testify.

Donald Trump, his adult children, and his closest business advisors could be called to testify during the civil fraud trial expected to begin Monday in New York.

Trump is listed on the witness lists submitted by the New York Attorney General and Trump’s legal team. The state and Trump’s lawyers need to be inclusive on their witness lists of any potential person they might want to call, or the judge could exclude the testimony. 

Trump previously sat for a deposition in the case and said he had little “if any” role in preparing the financial statements that a New York judge ruled last week were fraudulent.

Also on both lists are Donald Trump Jr., Eric Trump, defendants in the case and numerous current and former Trump Organization employees, including former chief financial officer Allen Weisselberg. Most of the witnesses have also testified in video depositions

In civil cases defendants can be called to testify and, if they refuse the jury, or in this case the judge, can use that against them in weighing the evidence. 

The New York attorney general’s office identified 28 witnesses they could call in the case, including Michael Cohen and Ivanka Trump. Ivanka Trump was initially a defendant in the case, but a New York appeals court struck her from the lawsuit saying the claims brought against her were too old.

Trump’s attorneys identified 127 possible witnesses that they would call, including some of the lenders behind the loans at issue in the lawsuit.

Former President Donald Trump will be in attendance Monday in a New York courtroom for the start of the civil fraud trial against him, his eldest sons, their companies and Trump Organization executives.

Opening statements in the civil trial over inflated assets in fraudulent financial statements come less than a week after a shocking ruling by Judge Arthur Engoron that found Trump and his co-defendants are liable for “persistent and repeated” fraud.

The ruling was a significant victory for New York Attorney General Letitia James, who brought the $250 million lawsuit last September alleging that Trump and his co-defendants committed repeated fraud in inflating assets on financial statements to get better terms on commercial real estate loans and insurance policies.

Trump inflated his net worth by as much as $3.6 billion in three separate years between 2011 and 2021, according to the attorney general’s office. Attorneys for Trump have refuted the claims, arguing that asset valuations are highly subjective and that they are still sorting through what the ruling means for the company’s future.

What's at stake at trial: Trump and his companies could be forced to pay hefty sums in damages for the profits they've allegedly garnered through their fraudulent business practices. 

Engoron will consider just how much the Trumps and their businesses will have to pay. 

The judge is expected to consider claims of business records fraud and insurance fraud alleged in the lawsuit in connection to high-profile properties, though he already determined some broad level of fraud was perpetuated.  

The six causes of action are falsifying business records, conspiracy to falsify business records, issuing false financial statements, conspiracy to falsify false financial statements, insurance fraud and conspiracy to commit insurance fraud.

James' lawsuit also asks the court to consider banning the Trumps from serving as officers of a business in New York and to stop the company from engaging in business transactions for five years.

Read more about Trump's fraud trial.

Former President Donald Trump said he will go to court in New York for his civil fraud trial on Monday.

Trump had been expected to attend, and law enforcement and court employees had already been making security preparations for his potential appearance at the courthouse in Lower Manhattan on Monday and possibly Tuesday.

Trump’s plans started to become clear after a federal judge in Florida granted his request to postpone a deposition in a separate case because it would conflict with the start of the New York trial.

The civil fraud case – brought in September 2022 by New York Attorney General Letitia James against Trump, his eldest sons, their companies and several executives – will begin at 10 a.m. Monday.

Remember: Last week, the judge overseeing the case dealt Trump a major blow in ruling that the former president is liable for fraud and that he overvalued his properties on his financial statements for a decade.

The ruling came in response to the lawsuit by James, who is seeking $250 million in damages, a ban on the Trumps from serving as officers of a business in New York, and a ban on the company from engaging in business transactions for five years.

The trial in the New York attorney general's civil fraud lawsuit against Donald Trump, his eldest sons, their companies and several executives, is set to begin Monday after a state appellate court denied Trump's motion to stay the trial last week.

The trial comes in the wake of state Supreme Court Judge Arthur Engoron's ruling Tuesday that Trump and his co-defendants are liable for fraud for grossly inflating asset valuations on financial statements. The judge will decide how much money the Trumps would pay the state.

New York Attorney General Letitia James has alleged that Trump, three of his children, his companies and his business executives defrauded lenders, insurers and other entities.

The judge has set aside nearly three months for the trial.

A New York judge found Donald Trump and his adult sons liable for fraud and canceled the Trump Organization’s business certification last week.

The ruling came in response to the lawsuit by New York Attorney General Letitia James — a case that is set to go to trial on Monday on the amount of damages owed.

James has alleged that Trump, three of his children, his companies and his business executives defrauded lenders, insurers and other entities. The state is seeking $250 million in damages, a ban on the Trumps from serving as officers of a business in New York and to stop the company from engaging in business transactions for five years.

Judge Arthur Engoron’s ruling is a complete rejection of Trump’s arguments that he didn’t inflate the values of his golf courses, hotels, homes at Mar-a-Lago and Seven Springs on financial statements.

Among other things, Trump is accused of inflating the value of his triplex apartment at Trump Tower by three times its size, resulting in an overvaluation of between $114 million to $207 million, Engoron wrote.

The judge canceled the business certifications of the Trump entities that are defendants in the case, including the Trump Organization — a major blow to the business that has been so synonymous with the former president’s personal brand.

A receiver will be put in place to “manage the dissolution” of the corporate entities. There are two New York properties that are part of the lawsuit, the commercial tower at 40 Wall Street and the Trump family compound at Seven Springs.

Questions remain as to how the receiver would dissolve the properties, if the ruling would impact properties located outside of New York state, including Mar-a-Lago, and if the Trumps could transfer the New York-based assets into a new company located out of state.

Increased security has been put in place ahead of the civil fraud trial for the New York attorney general’s lawsuit against Donald Trump, his eldest sons and their companies, a spokesperson for the New York State Unified Court System confirmed to CNN.

The increased security measures will continue for the duration of the trial set to begin Monday morning, which could last through December.