Connect with us

Business

Trump to retake stand in New York fraud trial on December 10, 2023 at 11:00 am Business News | The Hill

Published

on

Donald Trump will give the final word in his defense against claims his business engaged in a decade of fraud as the New York trial threatening his business empire nears its end. 

The former president is expected to take the witness stand for a third time Monday, this time under questioning from his own legal team.  

In testimony last month during the state’s case, Trump defended his business practices by downplaying key financial documents and declaring the trial corrupt. His fiery testimony often grew political, more akin to a stump speech than a direct examination as he railed against the judge and New York attorney general whom he decried as “frauds” and “political hacks.” 

“It’s a disgrace that a case like this is going on; all you have to do is read the legal scholars — the papers — and you’ll know,” Trump testified in November, raising his voice. “This is a political witch hunt.” 

Advertisement

But with Trump’s counsel steering the questioning this time, the former president will have significantly more latitude to set the narrative and espouse his side of the story. 

Throughout the defense case, which began in mid-November, several witnesses reprised previous testimony while offering up their own spin. 

The first time Donald Trump Jr. testified in the New York attorney general’s case, he distanced himself from documents at the heart of the case – his father’s statements of financial condition, which detail the value of the Trump Organization’s various assets and were sent to banks and insurers to secure loans and deals. New York Attorney General Letitia James’s (D) lawsuit claims the Trump Organization falsely adjusted the value of its assets to receive tax and insurance benefits. 

A defendant in the case, Donald Trump Jr. said he did sign off on Trump’s financial statements while his father was president. However, he said he counted on the work of accountants and executives like then-Chief Financial Officer Allen Weisselberg to be correct. 

Advertisement

“As a trustee, I have an obligation to listen [to] those who are expert — who have an expertise of these things,” Donald Trump Jr. testified. 

But when he testified again in the defense case, the key financial statements were hardly the focus of his testimony. Instead, Donald Trump Jr. walked Judge Arthur Engoron through a glossy slideshow titled “The Trump Story” — a flashy narration of the Trump Organization’s origin story, complete with sleek photographs of the company’s luxury golf courses and hotels. Notably glossed over were the valuations of those properties. 

Jeff McConney, the Trump Organization’s ex-corporate controller and another defendant in the case, had similarly variant testimonies when called as a state versus defense witness.  

McConney’s testimony was used as a vehicle for state lawyers to show evidence that Trump’s statements of financial condition were integral to some loan deals. He also said he believed Trump reviewed those documents before they were finalized, linking Trump to the skewed documents.  

Advertisement

But McConney’s testimony for the defense focused far less on logistics. Nearly in tears, he testified to the exhaustion caused by the Trump Organization’s barrage of legal issues, which ultimately led the 36-year veteran of the company to retire in February. 

“I’m very proud of the work that I did,” McConney said before detailing all the investigations and legal proceedings he’s been pulled into.  

“I just wanted to relax and stop being accused of misrepresenting assets for the company that I loved working for,” he said. 

When Trump retakes the stand, arguments he attempted to make while testifying for the state could be bolstered and reframed after other defense witness testimony backed him up. 

Advertisement

Several Deutsche Bank executives, for example, affirmed defense arguments including that the bank wanted to work with the Trump Organization, did its own due diligence and found no fraud. Trump made those points in his own testimony. 

“Banks check the work,” Trump testified, arguing that his statements of financial condition weren’t just taken at face value by the bankers with which Trump Organization executives worked.  

Deutsche Bank Managing Director David Williams’s testified last month for the defense that bankers viewed their clients’ statements of financial condition as “subjective or subject to estimates” — and, that the bank took its own look at reports of net worth. 

“I think we expect clients’ provided information to be accurate,” Williams said. “At the same time, it’s not an industry standard that these statements be audited.” 

Advertisement

“They’re largely reliant on the use of estimates,” he added, so bankers routinely “make some adjustments.” 

It’s all-but inevitable that Trump’s inflammatory political rhetoric will surface again, as well. 

In the month since he testified, Trump and his counsel have been locked in a battle with the trial judge, whom they claim has been biased against them from the start. The dispute began after Engoron imposed a gag order on Trump and his lawyers barring them from publicly discussing the judge’s staff. 

The order doesn’t prevent Trump’s team from criticizing the judge himself or James, the state’s top prosecutor. Nonetheless, that contention has placed Engoron directly in Trump’s line of fire on social media and in person. During his testimony last month, Trump lambasted the judge as “Trump hating” and questioned his impartiality. 

Advertisement

The former president’s legal team attempted to delay his testimony until after their appeal of the gag order plays out, but the judge forcefully denied that effort. 

“He is not capable of fully testifying because he is subject to the gag order,” Trump attorney Chris Kise argued, according to ABC News

“Absolutely not. No way. No how. It’s a nonstarter,” Engoron said. 

Trump’s third round of testimony – following a judge-ordered stint on the witness stand over a violation of the gag order and his examination by the state – could also give insight into how he’ll behave as his criminal trials get underway in the new year. 

Advertisement

The former president faces a combined 91 charges across four criminal cases, the first of which is expected to head to trial in Washington on March 4.  

The Associated Press contributed.

​Business, Court Battles, News, New York, Trump civil fraud trial, Trump Organization Donald Trump will give the final word in his defense against claims his business engaged in a decade of fraud as the New York trial threatening his business empire nears its end. The former president is expected to take the witness stand for a third time Monday, this time under questioning from his own legal…  

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

The Cities Bracing for Trump’s Immigration Crackdown

Published

on

In the wake of Donald Trump’s recent election victory and his promise of “the largest deportation operation in American history,” several major U.S. cities are bracing for potentially seismic shifts in their economic and social landscapes. As the nation grapples with the implications of this proposed policy, urban centers that have long been havens for immigrant communities find themselves at the epicenter of a looming storm.

Los Angeles, often dubbed the “City of Angels,” stands to lose more than its celestial nickname suggests. As a primary gateway for immigrants, the city’s vibrant tapestry of cultures and its economic engine could face significant disruption. From the bustling streets of Koreatown to the sun-drenched orchards of the Central Valley, the absence of undocumented workers could leave gaping holes in the city’s workforce and cultural identity.

Across the country, New York City, with its iconic skyline and melting pot reputation, faces its own reckoning. The Big Apple’s 5.9 million immigrants, many of whom are undocumented, form the backbone of industries ranging from construction to healthcare. The potential exodus could transform neighborhoods like Jackson Heights and Flushing, altering the very essence of what makes New York a global city.In the Sunshine State, Miami’s tropical allure belies the turbulent times ahead. Home to 2.5 million immigrants, the city’s economy relies heavily on sectors like tourism and hospitality – industries where undocumented workers often fill crucial roles. The potential deportation of these workers could send shockwaves through Miami’s economic ecosystem, from South Beach’s glitzy hotels to the agricultural heartlands of South Florida.

Chicago, the “City of Big Shoulders,” may find those shoulders significantly weakened. With 1.7 million immigrants in its metropolitan area, the Windy City’s diverse neighborhoods and industries face an uncertain future. From the meatpacking plants to the tech startups, Chicago’s economic resilience could be tested like never before.

In the Lone Star State, Houston and Dallas stand as twin testaments to the complexities of immigration policy. These Texas titans, each home to large immigrant populations, could see their booming economies stumble. The construction sites that dot their ever-expanding skylines and the service industries that keep these cities humming could face unprecedented labor shortages.

Advertisement

Out West, the San Francisco Bay Area’s reputation as a bastion of innovation and progress could be challenged. The region’s tech industry, often reliant on immigrant talent, might find itself grappling with a new reality. From Silicon Valley’s coding campuses to the agricultural expanses of the Central Valley, California’s economic powerhouse could face a reckoning. Phoenix, rising from the Sonoran Desert, could see its growth trajectory altered. As Arizona’s urban center, it stands at the forefront of the immigration debate, potentially facing not just economic impacts but social and political upheaval as well.

These cities, along with others like San Diego and Las Vegas, are not just facing potential economic disruptions. They are staring down the barrel of profound social change. Family separations, community fragmentation, and the erosion of cultural enclaves built over generations are all possible consequences of mass deportations. Moreover, the fiscal implications are staggering. Undocumented immigrants contribute billions in taxes annually, often without receiving the full benefits of their contributions. Their sudden absence could leave gaping holes in city budgets, potentially affecting public services and infrastructure projects.

As these urban centers brace for impact, the debate rages on. Supporters of stricter immigration policies argue for the need to enforce laws and protect American jobs. Critics warn of economic devastation and the unraveling of America’s urban fabric. What’s clear is that America’s cities stand at a crossroads. The coming months and years will likely reshape urban landscapes in ways both visible and invisible. From the foods we eat to the services we rely on, from the neighborhoods we call home to the very character of our cities, the impacts of this proposed immigration crackdown could be far-reaching and long-lasting. As the nation watches and waits, these cities – vibrant, diverse, and economically vital – find themselves on the front lines of a policy that could redefine what it means to be an American city in the 21st century.

Bolanle Media is excited to announce our partnership with The Newbie Film Academy to offer comprehensive courses designed specifically for aspiring filmmakers. Whether you’re just starting out or looking to enhance your skills, our resources will provide you with the tools and knowledge needed to succeed in the competitive world of screenwriting. Join us today to unlock your creative potential and take your first steps toward crafting compelling stories that resonate with audiences. Let’s turn your ideas into impactful scripts together!

Continue Reading

Business

How Trump’s Deportation Plans Could Reshape Major Cities

Published

on

In the wake of Donald Trump’s recent election victory, his ambitious plans for mass deportations have thrust America’s urban centers into the spotlight. As the nation grapples with the potential implications of what Trump calls “the largest deportation operation in American history,” cities across the country are bracing for significant changes that could reshape their economic, social, and cultural landscapes.

The stakes are particularly high for metropolitan areas like New York, Los Angeles, Houston, Dallas, and Miami, which host the largest populations of unauthorized immigrants. These cities, along with other major urban hubs such as Chicago, Washington D.C., and San Francisco, stand at the forefront of a looming transformation that could reverberate throughout the nation.

Economic Tremors

Economists warn that the proposed deportations could send shockwaves through urban economies. Mark Zandi, chief economist at Moody’s, cautions that businesses would face “significant challenges” if a substantial number of immigrants were removed. Industries such as construction, hospitality, and healthcare—pillars of urban economies—could face severe labor shortages.

Joe Brusuelas, chief economist at RSM, emphasizes the potential ripple effects: “The native-born workforce cannot meet current labor demands.” This labor gap could lead to increased wages, potentially rekindling inflation—a concern that looms large over city planners and policymakers alike.

Community Fabric Under Strain

Beyond economic considerations, the social fabric of cities hangs in the balance. Elena, a Nicaraguan immigrant in Houston, voices a fear echoed in immigrant communities across the nation: “I’m scared… This is my home.” The threat of family separations, particularly in mixed-status households, casts a long shadow over urban neighborhoods.

Immigrant advocacy groups like FIEL are mobilizing, advising clients to prepare for “anything that can happen.” This atmosphere of uncertainty could lead to decreased community engagement and cooperation with local authorities, potentially impacting public safety and community cohesion.

Advertisement

Cities at a Crossroads

As the debate intensifies, cities find themselves at a crossroads. Some, like New York and Los Angeles, have historically positioned themselves as “sanctuary cities,” often at odds with federal immigration enforcement. The impending clash between federal policy and local governance promises to be a defining feature of this new political landscape.

Meanwhile, the logistical challenges of implementing such a massive deportation operation remain daunting. Questions abound regarding detention facilities, transportation networks, and the sheer manpower required to carry out Trump’s vision.

Looking Ahead

As America’s urban centers brace for potential change, the full impact of Trump’s deportation plans remains to be seen. Legal challenges are all but certain, and the resilience of America’s cities will be put to the test.

What is clear is that the coming months and years will be pivotal for urban America. As Jason Miller, a senior Trump adviser, puts it, the plan is to “immediately reinstate” immigration policies from Trump’s first term. For America’s cities, this could mean a period of unprecedented change, challenge, and, potentially, transformation.

As the nation watches and waits, the story of America’s cities in the face of this ambitious deportation plan is just beginning to unfold. The outcome will undoubtedly shape the future of urban life in America for years to come.

Bolanle Media is excited to announce our partnership with The Newbie Film Academy to offer comprehensive courses designed specifically for aspiring screenwriters. Whether you’re just starting out or looking to enhance your skills, our resources will provide you with the tools and knowledge needed to succeed in the competitive world of screenwriting. Join us today to unlock your creative potential and take your first steps toward crafting compelling stories that resonate with audiences. Let’s turn your ideas into impactful scripts together!

Advertisement
Continue Reading

Business

Donald Trump Wins 2024 USA Election

Published

on

Based on the election results, Donald Trump has indeed won the 2024 U.S. presidential election, defeating Vice President Kamala Harris. Here’s an analysis of the key statistics and implications:

Electoral College Victory

Donald Trump has secured the presidency by winning crucial battleground states and flipping some key states that were previously held by Democrats. The final Electoral College tally is still being determined, but Trump has surpassed the 270 electoral votes needed to win.

Battleground State Performance

Trump’s victory was largely secured by winning several critical swing states:

  • Wisconsin: Trump’s win here was pivotal in securing his path to victory.
  • Pennsylvania: This state flipped back to Republican control.
  • Georgia: Another key state that Trump managed to win back.
  • Michigan: Trump successfully flipped this traditionally Democratic stronghold.

While the final popular vote tally is still being calculated, exit polls provide insight into voter priorities:

Congressional Control

The election results extend beyond the presidency:

Media Implications

The outcome of this election could be seen as a challenge to mainstream media narratives for several reasons:

  1. Polling Discrepancies: Many pre-election polls suggested a tight race or even a slight Harris advantage in key states. Trump’s victory, particularly in battleground states, may indicate that polls underestimated his support.
  2. Narrative Shifts: Throughout the campaign, much of the mainstream media focused on Trump’s legal challenges and controversies. His victory suggests that these issues may not have resonated with voters as much as economic and policy concerns.
  3. Voter Priorities: The emphasis on issues like the economy and immigration in voter decision-making may indicate a disconnect between media focus and voter concerns.
  4. Electoral Predictions: Many mainstream outlets were cautious about predicting a Trump victory, even as results began to favor him. This hesitancy could be seen as a reflection of broader media skepticism about Trump’s chances.
  5. Underestimation of Trump’s Base: The results suggest that Trump’s core support remained strong and potentially grew, despite negative coverage in much of the mainstream media.

It’s important to note that while the election outcome may challenge some media narratives, it doesn’t necessarily invalidate all mainstream reporting. The complex factors influencing voter behavior and the challenges of accurate political forecasting remain subjects of ongoing analysis and debate.

As the dust settles on this historic election, both the media and political analysts will likely engage in extensive reflection on the factors that led to Trump’s victory and the implications for future political coverage and analysis.

Bolanle Media is excited to announce our partnership with The Newbie Film Academy to offer comprehensive courses designed specifically for aspiring screenwriters. Whether you’re just starting out or looking to enhance your skills, our resources will provide you with the tools and knowledge needed to succeed in the competitive world of screenwriting. Join us today to unlock your creative potential and take your first steps toward crafting compelling stories that resonate with audiences. Let’s turn your ideas into impactful scripts together!

Advertisement
Continue Reading

Trending