courtesy: HT
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Following his testimony at New York civil fraud trial, Donald Trump has moved closer to risk of losing control of properties such as his Mar-a-Lago resort.
Speaking on a podcast hosted by Mary Trump, niece and frequent critic of the former president, Joe Gallina, suggested things “could not have gone worse” for Trump after he answered questions under oath, on Monday, regarding his financial statements.
Trump is accused of New York attorney Letitia James of filing fraudulent financial records for years which inflated the value of his properties and assets in order to obtain favorable banks and tax breaks. He has denied any wrongdoings in connection to the $250 million lawsuit.
Judge Arthur Engoron, overseeing the case against Trump, has already ruled that he has committed fraud by manipulating the value of his properties. The civil trial is now considering six remaining allegations in James’ lawsuit, as well as the size of the penalty.
If the verdict comes against Trump, he will be barred from conducting business in New York state, having his properties removed from his control or being forced to pay a fine of hundreds of millions of dollars.