Former President Donald Trump arrived in New York on Monday to unusually participate in the opening of a civil trial against his corporation.
Brief background: Prosecutors in New York allege that Trump and his children Donald Trump Jr., Erica and Ivanka distorted data and overestimated real estate assets for tax benefits, favorable loans and other financial benefits.
The Trump Corporation Fraud Case: The Atmosphere Ahead of the Opening of the Trial in New York | Reuters
According to prosecutor Letitia James, the president and his relatives provided valuations between 2011 and 2021. Among other things, a financial statement was issued estimating the value of the penthouse in the famous Trump Building in New York at an astronomical $327 million. Trump and his associates face a series of charges, including falsifying business records and insurance fraud.
The lawsuit is expected to seek $250 million in damages, a ban on Trump and his family from holding positions in the New York corporation, and a ban on the corporation from conducting transactions for the next five years.
Trump, as noted, will appear in court today in an unusual manner. On his social network Truth, he wrote: "I will go to court to fight for my name and reputation."
The trial is expected to begin today at 17 p.m. (Israel time).
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