Raw: [Trump fraud trial: Saying ‘a lie is still a lie,’ judge rejects Trump’s request for directed verdict ABC News] {Article Source: https://abcnews.go.com/US/live-updates/trump-fraud-trial/trump-tax-rep-acknowledged-much-lower-value-for-maralago-104481579?id=103642561}
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OffOnLOG INStream onLIVE UPDATESTrump fraud trial: Saying ‘a lie is still a lie,’ judge rejects Trump’s request for directed verdictThe former president is on trial in New York for allegedly defrauding lenders.ByPeter Charalambous,Aaron Katersky,Olivia Rubin, andLucien BruggemanLast Updated: December 18, 2023, 5:17 PM ETLinkShare to FacebookShare to TwitterEmail this article0:44Donald Trump cancels plans to testify at civil fraud trialFormer President Donald Trump is on trial in New York in a 250 million civil lawsuit that could alter the personal fortune and real estate empire that helped propel Trump to the White House.ABCNews.comFormer President Donald Trump is on trial in New York in a $250 million civil lawsuit that could alter the personal fortune and real estate empire that helped propel Trump to the White House.Trump, his sons Eric Trump and and Donald Trump Jr., and other top Trump Organization executives are accused by New York Attorney General Letitia James of engaging in a decade-long scheme in which they used “numerous acts of fraud and misrepresentation” to inflate Trump’s net worth in order get more favorable loan terms. The trial comes after the judge in the case ruled in a partial summary judgment that Trump had submitted “fraudulent valuations” for his assets, leaving the trial to determine additional actions and what penalty, if any, the defendants should receive.The former president has denied all wrongdoing and his attorneys have argued that Trump’s alleged inflated valuations were a product of his business skill.Top headlines:In blistering ruling, judge denies Trump's motion for directed verdictState rests its case; closing arguments set for Jan. 11Trump cites limited gag order for decision to not testify'There is no fraud here,' accounting expert testifiesJudge says he'll 'rigorously' enforce limited gag orderDeutsche Bank made money from Trump, defense emphasizesTrump's disclaimer told bankers to 'beware,' expert saysTrump distances himself from preparation of statementsTrump's misrepresentations cost banks $168M, expert testifiesTrump, after testifying, fined $10,000 for violating gag orderTrump tax rep acknowledged much lower value for Mar-a-LagoHere's how the news is developing. All times Eastern.Dec 18, 5:17 PM ESTIn blistering ruling, judge denies Trump's motion for directed verdictLinkShare to FacebookShare to TwitterEmail this articleJudge Arthur Engoron has denied Donald Trump’s most recent motion for a directed verdict to end his civil fraud trial.In a blistering ruling, the judge not only denied the motion but also opted to explain the flaws he sees in many of Trump’s arguments at trial.Addressing the testimony of defense accounting expert Eli Bartov, who Trump proudly and repeatedly declared found “no accounting fraud of any kind,” Engoron flatly dismissed Bartov’s findings by saying he lost credibility by “doggedly attempting to justify every misstatement.””Bartov is a tenured professor, but all that his testimony proves is that for a million or so dollars, some experts will say whatever you want them to say,” Engoron wrote.The judge also rejected assertions from Trump’s lawyers that any financial misstatements are beyond the case’s statute of limitations.”Closing is not a get-out-of-jail-free card for future misstatements. All that §63(12) requires is a false statement used in business; the subject financial statements fit that definition ‘to a T,'” Engoron wrote.Engoron also suggested he didn’t buy Trump’s argument that fining the former president for ill-gotten gains was not merited in the case because his lenders were happy with the transactions.”That the instant lenders made millions of dollars and were happy with the transactions does not mean that they were not damaged by lending at lower interest rates than they otherwise would have,” he wrote.Calling Trump’s claims “misstatements at best and fraud at worst,” Engoron wrote that “Valuations, as elucidated ad nauseum in this trial, can be based on different criteria analyzed in different ways. But a lie is still a lie.”The judge ended his ruling by reminding the parties about the date for closing arguments in the case, currently set for Jan. 11.Dec 18, 4:56 PM ESTTrump's case does not age like fine wine, NY AG lawyer saysLinkShare to FacebookShare to TwitterEmail this articleIn a letter the Judge Arthur Engoron, a lawyer for the New York attorney general said Donald Trump’s most recent request for a directed verdict in the case is nothing more than a “political stunt designed to provide Mr. Trump, his co-defendants, and their counsel with sound bites for press conferences, Truth Social posts, and cable news appearances.”Trump’s lawyers on Friday made their fifth motion for a directed verdict to end the case for lack of evidence, which Engoron earlier said he was all but certain to deny. The judge has rejected all four of Trump’s previous motions for a directed verdict.”Unlike a fine Bordeaux, Defendants’ case for a directed verdict does not improve with age,” state attorney Andrew Amer wrote in Monday’s letter to the judge.Amer also argued that Trump’s request was not merited given the evidence presented at trial, saying that “Nor does any of the testimony from the most ineffective team of experts that Defendants’ money can buy change the analysis.””Defendants are once again ‘whistling past the graveyard’ by relying on arguments the Court has already rejected,” Amer said, referring in part to Engoron’s pretrial partial summary judgment ruling, in which he found that Trump used fraudulent statements to conduct business.Dec 15, 6:27 PM ESTTrump files 5th motion for directed verdictLinkShare to FacebookShare to TwitterEmail this articleDonald Trump’s lawyers made their fifth motion for a directed verdict in the former president’s fraud trial in a filing late Friday that appears destined to be rejected.Judge Arthur Engoron all but guaranteed he would deny the request to end the trial when Trump’s lawyer Chris Kise announced his plans to file the motion earlier this week.”There is no way I am going to grant that,” Engoron said on Tuesday. “You’d be wasting your time.”Trump’s lawyers nevertheless filed their motion late Friday.”In sum, there was no fraud, there were no victims, there has simply been no harm or actionable misconduct, and the Court must and should follow the law of the case regarding the scope of the claims at issue,” Trump’s lawyers wrote.In the filing, Trump’s attorneys targeted New York Attorney General Letitia James’ request to fine Trump nearly $400 million for ill-gotten gains by arguing that the state failed to demonstrate that Trump and his sons intended to defraud his lenders or that they engaged in a conspiracy to commit fraud.”Not a single defense witness supported the notion of any alleged conspiracy, and in fact such testimony refuted fully the existence of the same,” the lawyers wrote, calling Trump’s former lawyer Michael Cohen, who testified about the alleged conspiracy, a “demonstrable, perpetual, and serial liar.”They also argued that James failed to prove that any of Trump’s alleged misrepresentations would have materially changed the loans he received from his lenders, writing that the alleged misstatements had “no actual significance” to Trump’s lenders.All four of Trump’s previous motions for a directed verdict to end the case for lack of evidence have been rejected by Judge Engoron.Dec 15, 5:32 PM ESTTrump files notice he intends to appeal gag order decisionLinkShare to FacebookShare to TwitterEmail this articleDonald Trump wants New York’s highest court to weigh in on the limited gag order in his civil fraud trial, according to a new filing Friday afternoon.New York’s Appellate Division shot down Trump’s earlier challenge Thursday, determining that Trump used the incorrect legal avenue to challenge the limited gag order, which bars him from commenting on Judge Arthur Engoron’s staff.In a notice of appeal filed Friday, Trump’s lawyers said they plan to appeal the decision to the Albany-based Court of Appeals — New York’s highest court.It’s unclear if the Court of Appeals will consider the request because Trump also lost a motion for leave to appeal the gag order.Oct 30, 12:21 PM EDTTrump tax rep acknowledged much lower value for Mar-a-LagoLinkShare to FacebookShare to TwitterEmail this articleIn 2020, the same year Donald Trump valued his Mar-a-Lago social club at $517 million in his statement of financial condition, the former president’s tax representative signed a waiver agreeing with a much lower market value of $27 million, according to documents entered into evidence at trial.Judge Engoron already determined in a summary judgment that Trump overvalued Mar-a-Lago by “at least 2,300%” by valuing the club between $426 and $612 million in his financial statements, despite the Palm Beach county assessor appraising the value between $18 and $27.6 million between 2011 and 2021. The documents entered into evidence today, as well as testimony from former Trump Organization VP Raymond Flores, adds context regarding who at the Trump Organization could have been aware of the discrepancy.Trump’s tax representative tried to appeal the assessment in 2020 before eventually withdrawing the appeal. In that withdrawal, Trump’s representative conceded that “the petitioner agrees with the determination of the property appraiser or tax collector.””Was it your understanding that the appeal was withdrawn because the Trump Organization agreed with the value of the property assessor?” state attorney Andrew Amer asked Flores about the $27 million valuation.”Yes,” Flores answered.Steve Helber/AP, FILEAn aerial view of former President Donald Trump’s Mar-a-Lago estate is seen Aug. 10, 2022, in Palm Beach, Fla.Trump Organization controller Jeffrey McConney previously testified that Trump valued Mar-a-Lago as a private residence from 2011 through 2021, despite Trump signing a deed that restricted Mar-a-Lago’s usage to a social club, thereby limiting its resale value.During a 2021 email exchange, Flores forwarded an email to former Trump Organization CFO Allen Weisselberg and Eric Trump in which Trump’s tax broker, Michael Corbiciero, explained the tax implications of classifying Mar-a-Lago as Trump’s residence, rather than a social club.”Currently this property is assessed as a private club with the current assessed value at $359/sqft” compared to nearby properties valued at nearly ten times the rate, the email stated. Corbisiero ultimately recommended against classifying Mar-a-Lago as a residence rather than a social club due to the tax implications, according to the email forwarded to Eric Trump and Weisselberg.Load MoreLinkShare to FacebookShare to TwitterEmail this articleTop StoriesNY governor commutes sentence of rapper G. Dep who turned self in for killingDec 23, 1:21 PMMen impacted by abortion restrictions share their storiesDec 23, 8:52 AM1 killed in Florida mall shooting, police release photo of person of interest34 minutes agoGraham: 'I would not invest 15 cents' in future Palestinian state involving Hamas, PA2 hours agoWhat stores are open and closed on Christmas Day in 2023? Hours for Walmart, Kroger, CVS and moreDec 22, 12:39 PMABC News NetworkPrivacy PolicyYour US State Privacy RightsChildren's Online Privacy PolicyInterest-Based AdsAbout Nielsen MeasurementTerms of UseDo Not Sell or Share My Personal InformationContact Us © 2023 ABC News
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