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Read the Judge's Ruling in the Trump Civil Fraud Case

Former President Donald J. Trump was penalized $355 million and banned for three years from serving in any top roles at a New York company, including his own, in a ruling on Friday by Justice Arthur F. Engoron.

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Trump fraud trial live updates: Banker says Trump declined to share financials in Bills' bid

Trump fraud trial live updates: Banker says Trump declined to share financials in Bills' bid
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Radio Station WHMI 93.5 FM — Livingston County Michigan News, Weather, Traffic, Sports, School Updates, and the Best Classic Hit

Radio Station WHMI 93.5 FM — Livingston County Michigan News, Weather, Traffic, Sports, School Updates, and the Best Classic Hits for Howell, Brighton, Fenton

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Trump fraud trial live updates: Trump allowed no copies of statements, insurance exec says

Trump fraud trial live updates: Trump allowed no copies of statements, insurance exec says
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ABC National - WOND

ftwitty/Getty Images(NEW YORK) -- Former President Donald Trump is on trial in New York in a $250 million lawsuit that could alter the personal fortune and real estate empire that helped propel Trump to the White House.

Trump, his sons Eric and Don Jr., and Trump Organization executives are accused by New York Attorney General Letitia James of engaging in a decade-long scheme in which they used "numerous acts of fraud and misrepresentation" to inflate Trump's net worth in order get more favorable loan terms. The trial comes after the judge in the case ruled in a partial summary judgment that Trump had submitted "fraudulent valuations" for his assets, leaving the trial to determine additional actions and what penalty, if any, the defendants should receive.

The former president has denied all wrongdoing and his attorneys have argued that Trump's alleged inflated valuations were a product of his business skill.

Here's how the news is developing. All times Eastern:

Oct 31, 8:45 AM EDT
Morgan Stanley exec scheduled to testify this morning

Day 20 of the trial is scheduled to begin with testimony from K. Don Cornwell, who worked at investment bank Morgan Stanley in 2014 when Donald Trump bid for the Buffalo Bills football team.

He is scheduled to be followed on the witness stand by former Trump Organization executive David Orowitz.

The state's expert witness, Michael McCarty, is then scheduled to testify later today about the financial implications of Trump's inflated assets -- context that is expected to guide the judge's determination about the size of fine Trump faces, if any.

Members of the Trump family are scheduled to begin testifying tomorrow, starting with Donald Trump Jr.

Oct 30, 9:24 PM EDT
AG agrees to pause cancelation of Trump's business certificates

Lawyers for the New York attorney general, in a late-day court filing, said they support the court-ordered pause on canceling Trump's business certificates -- but warn that a stay of Trump's civil fraud trial would cause a "cascade of delays."

The filing comes more than three weeks after an appeals court, at Trump's request, paused the enforcement of the cancelation of Trump's business certificates that Judge Arthur Engoron had ordered in his summary judgment.

In today's filing, New York Attorney General Letitia James wrote she was "willing to agree to stay enforcement … pending the end of trial and entry of final judgment."

On the other parts of Trump's appeal -- including the request to delay the trial and arguments against Engoron's summary judgment ruling that Trump committed fraud -- James vehemently argued in favor of letting the trial run its course.

"Abruptly halting trial would thus sow chaos and result in an inordinate waste of both public resources and the time and resources of witnesses," James wrote, alleging that Trump is playing courts against one another to create delays.

"Moreover, any delay here would threaten a cascade of delays not only in this case but also in other pending criminal and civil cases against defendant Donald J. Trump," the filing said.

Trump's legal team has until Nov. 9 to submit their reply.

Oct 30, 5:14 PM EDT
Trump CFO misrepresented source of appraisals, underwriter says

Former Trump Organization CFO Allen Weisselberg provided misleading information about Donald Trump's assets, according to Claudia Mouradian, an insurance underwriter who met with Weisselberg on multiple occasions.

During meetings with Mouradian in 2018 and 2020, Weisselberg claimed that Trump had strong cash assets and stable properties that had been appraised by third parties -- information that Mouradian said she used to determine that the Trump Organization was in "very good financial shape."

"It was a positive factor when he told me that. He was essentially saying the properties don't fluctuate in value during economic cycles," Mouradian testified about Trump's assets during a video deposition played in court today.

However, Weisselberg acknowledged in his own deposition that the Trump Organization did not use outside appraisers to value properties -- contradicting what he told Mouradian.

"I am understanding you correctly that you did not engage appraisers to perform valuations of properties for purposes of that statement of financial condition?" a state attorney asked Weisselberg in a taped deposition.

"Correct," Weisselberg replied, though he said he did not recall that he told Mouradian the opposite.

"It is not consistent with what he told me at the meeting," Mouradian said when shown Weisselberg's testimony.

Court was subsequently adjourned for the day.

Oct 30, 3:57 PM EDT
Trump allowed no copies of statements, insurance exec says

An insurance company executive testified that the Trump Organization kept its financial documents closely guarded to an unusual extent.

Claudia Mouradian, a senior underwriting officer at Zurich North America, provided the testimony via a deposition video. Mouradian, who lives outside New York and is nine months pregnant, is the only witness who has been excused from in-person testimony.

Mouradian, who began working on the Trump Organization account for Zurich in 2017, said that the Trump Organization placed restrictions on taking financial materials out of their offices.

"It is rare," she said about the restrictions.

When she reviewed Donald Trump's financial statements in 2018, she recalled a one-hour meeting in Trump Tower overseen by then-Trump Organization CFO Allen Weisselberg.

"He took me to the boardroom. He provided me the financial statements. [He said,] 'take as many notes as you would like, no cellphones, no photocopies,'" Mouradian said. "Allen stayed in the room with me."

Oct 30, 2:48 PM EDT
Ivanka Trump's testimony moved to Nov. 8

Donald Trump's daughter Ivanka Trump is now scheduled to testify on Wednesday, Nov. 8, after a scheduling conflict necessitated the change.

Her testimony will come at the conclusion of the New York attorney general's case, before the defense puts on its case.

Both parties agreed to in court today to change the date of her appearance from the original date this coming Friday.

Donald Trump Jr. is still set to begin his testimony this Wednesday, and state attorney Andrew Amer suggested that the state will need less than a full trial day top question him.

"Eric Trump should be available to start whenever we finish Donald Trump Jr.," Amer said.

Eric Trump will likely testify through Thursday, and no additional witnesses are currently scheduled to testify on Friday.

"We will leave Friday as a big question mark," Judge Engoron remarked.

Donald Trump is still scheduled to testify on Monday, followed by a day off for Election Day, then Ivanka Trump's testimony on Wednesday.

"Nothing ever goes according to plan," Trump's lawyer Chris Kise joked while agreeing to the arrangement.

Oct 30, 2:14 PM EDT
Trump claimed $3-5B net worth in lease to run NYC golf course

When the NYC Department of Parks and Recreation awarded Donald Trump the rights to operate a golf course in Ferry Point Park in 2010, Trump represented that he had a net worth of $3 billion and $200 million in cash on hand, according to documents presented as evidence.

Over the next decade, in letters to the Parks Department, Trump claimed that his net worth was as much as $4.9 billion, according to the evidence.

"We wanted to be sure, as we would always, that the operator in place had the funds to deliver on their obligations," David Cerron, the Parks Department's assistant commissioner for business development and special events, said of the agency's requirements for maintaining the licensing agreement on an ongoing basis.

The New York attorney general alleges that Trump inflated his net worth by as much as $2.2 million during the timeframe and never actually had more than $2.1 billion to his name.

"Would the Department of Parks and Recreation expect this representation to be true, complete, and accurate?" state attorne

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Trump fraud trial live updates: Morgan Stanley exec scheduled to testify this morning – Connect FM | Local News Radio

(NEW YORK) — Former President Donald Trump is on trial in New York in a $250 million lawsuit that could alter the personal fortune and real estate empire that helped propel Trump to the White House. Trump, his sons Eric and Don Jr., and Trump […]

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