Outcome of Trump's New York fraud trial hangs in the balance with enormous financial stakes

Former President Donald Trump concluded his fraud trial at Manhattan Supreme Court, where he criticized Attorney General Letitia James, who brought the case against him. The trial focused on allegations that Trump and his family fraudulently inflated assets to obtain favorable loans. While a judge has already determined the fraudulent activities, the trial aimed to determine the damages. Judge Arthur Engoron stated that he will issue a final written ruling by the end of the month, potentially resulting in significant penalties that could impact the Trump family's legacy in New York real estate. James is seeking a $370 million penalty and a five-year ban from doing business in New York for Donald Trump, Eric Trump, and Donald Trump Jr. She is also asking for an independent monitor to oversee their company for the next five years. During closing arguments, Trump's lawyers attempted to discredit James's case, arguing that the family did not commit fraud. Trump himself interrupted the proceedings, claiming that the trial was a "fraud on me." Despite his refusal to abide by restrictions set by the judge, he was allowed to continue speaking and insulted both Judge Engoron and James. This repetition seemed to be part of the defense strategy. Trump's lawyer, Christopher Kise, reiterated arguments that the case was politically motivated and that Trump's real estate valuations did not harm banks or others. In response, the prosecution emphasized that the Trump family should share responsibility for ensuring accurate financial statements, rather than shifting blame to their accountants. State attorney Andrew Amer argued that while Trump may not have falsified numbers himself, he instructed employees and accountants to maintain a high net worth. The prosecution also presented emails suggesting that Trump and his family were aware of the false financial statements, contrary to their testimony. Throughout the trial, tensions centered on Judge Engoron, with Trump's legal team accusing him and his law clerk of bias. Trump also insulted the judge's clerk on social media, resulting in a gag order and a $15,000 fine. Furthermore, there was a threat made against Judge Engoron's home, which was later determined to be a hoax call. As the fraud trial concludes, other criminal cases against Trump are progressing, including charges related to his alleged attempts to overturn the 2020 election. Additionally, writer E Jean Carroll has filed a civil case against Trump, set to begin this month.