Former President Donald Trump, who is also a candidate for the 2024 Republican presidential nomination, announced he will not testify on Monday in a New York civil fraud trial, a departure from previous plans.
The trial, involving a $250 million lawsuit brought by New York Attorney General Letitia James, accuses Trump and his company of inflating asset values to secure loans and other financial advantages.
Trump’s decision, communicated via his social media platform Truth Social, came after he had previously testified in November 2023. His legal counsel stated that there was no further need for Trump to testify, as he had already addressed all necessary points. The announcement follows a series of developments in the trial, which is in its final stages and expected to conclude in January.
The lawsuit, filed by Attorney General James, seeks to recover $250 million and impose a ban on Trump’s ability to conduct business in New York. The allegations suggest that Trump and his company engaged in a decade-long fraudulent scheme to inflate the value of their assets for better loan and insurance terms, benefiting themselves by hundreds of millions of dollars. In addition to Trump, his two sons have also previously testified, denying any wrongdoing.
Throughout the trial, Trump has repeatedly criticized the proceedings, claiming election interference and an unconstitutional gag order. His attorneys have echoed these sentiments, describing the trial as biased and questioning the necessity of Trump’s further testimony. The trial has heard from 19 defense witnesses so far, including an accounting expert who testified that there was no evidence of fraud in Trump’s financial statements.
Judge Arthur Engoron, overseeing the trial, has ruled that Trump and his sons manipulated financial statements. This ruling comes in the context of Trump’s previous testimony in November, where he often avoided direct answers and clashed with the judge. The judge’s frustration was evident, as Trump’s testimony was marked by repeated attacks on the attorney general and the trial itself.
In response to Trump’s decision not to testify, Attorney General James stated that the evidence already presented in court had proven financial fraud. She emphasized that the facts of the case would stand despite Trump’s decision.
The trial is expected to continue with the remaining testimonies and rebuttal witnesses before concluding with closing arguments scheduled for early January. A decision in the case is anticipated later in January, which will determine the financial repercussions for Trump and the future of his business activities in New York.
As the trial nears its end, Trump continues to lead in polls for the Republican presidential nomination for 2024, despite facing other criminal charges related to attempts to overturn the 2020 election result.