Trump’s Explosive Testimony: Admits Involvement in Asset Valuation Scandal

On Trial for Allegedly Inflating Assets Worth $3.6 Billion

Donald Trump, the 45th President of the United States and the leading candidate for the Republican nomination in 2024, admitted on the 6th (local time) that he had some involvement in the valuation process when preparing past financial statements, according to Bloomberg News.

In the trial held in a New York court today, Trump responded to the prosecution’s questioning about his direct involvement in preparing the company’s financial statements, saying, “I told people to give accountants what they needed to prepare the financial statements and approved it. In some cases, I made a few suggestions.”

Letitia James, New York State Attorney General, and Prosecutor, alleges former President Trump inflated real estate assets in financial statements to $3.6 billion to deceive banks and insurance companies and secure better loan terms. She also claimed that through this, Trump gained an ‘illegal profit’ of $250 million. Real estate assets were a major foundation for Trump as he built the Trump Empire and made his way to the White House.

In addition to this New York civil lawsuit, former President Trump also faces multiple criminal charges. Americans could not watch the proceedings as the trial was not televised, but his trademark aggressive remarks were not spared for the prosecution and the judge.

On his way to the Manhattan court to testify, he criticized Letitia James, the New York State Attorney General who filed a fraud case against him, claiming the trial was “election interference,” a “political war,” and a “very unfair situation.”

On the stand, he also grumbled, “I am certain the judge will rule against me because the judge always rules against me.”

About Judge Arthur Engoron, who is presiding over the trial, he raised his voice, saying, “He called me a fraud, but he knows nothing about me. The fraud is not with me but with the court.”

Bloomberg reported, “Former President Trump seemed noticeably angry and sometimes shouted in response to questions,” and “He repeatedly angered the judge with long and verbose remarks that seemed to have been pulled from his social media posts.”

It added, “The judge felt frustrated when former President Trump shouted at the judge and lawyers from the stand and asked the lawyer to control his client (Trump).”

By. Lee Jin Young