Transcripts of a deposition concerning former president Donald Trump’s New York fraud case have been released. It was full of drama as expected.
Trump has been in the middle of a criminal investigation surrounding fraudulent business practices. New York Attorney General, Letitia James, has instituted a lawsuit against Trump, some of his children, and several business partners. She is pursuing $250 million in penalties.
The allegations against the former president are pretty heavy. James said Trump lied to attract more loans from banks. In her own words, she claimed that he “falsely inflated his net worth by billions of dollars to further enrich himself and cheat the system.”
Contents of the newly released transcripts showed that the former President gave long-winded answers during the 7-hour session. Trump often branched off into irrelevant rants almost throughout the session. This behavior prompted one of James’s frustrated lawyers to declare, “We’re going to be here until midnight!”
The transcripts, which were released by the Attorney General’s office, revealed a tense atmosphere that witnessed several back and forth between opposing lawyers. At one point, one of Trump’s lawyers, Chris Kise remarked, “We’re going to be here until midnight if you keep asking questions that are all over the map.” “We’re going to be here until midnight if your client answers every question with an eight-minute speech,” Wallace, one of AG’s lawyers, fired back.
Aside from the quarter million dollar penalty, James is also seeking the court to place several restrictions on the former president’s businesses. These include permanently banning Trump from doing business in New York.
She is also seeking that the court appoints an independent monitor to, for at least the next five years, “oversee compliance, financial reporting, valuations, and disclosures to lenders, insurers, and tax authorities at the Trump Organization.”
Trump has described the case as the “greatest witch hunt in the history of our country.”
The deposition transcripts also recorded long tirades during which the former president praised the quality of his properties. In one of the lengthy speeches, Trump praised the beauty of his Miami golf resort’s “marble bathrooms.”
In another round of answers, Trump showered nonessential praise on his brand. “If I wanted to build a big statement just for the sake of a statement, I would go out and I would value the brand and — which is much more than the $3 billion,” he said. “And as I said once before today, I became President of the United States because of my brand,” he continued.
James believes there is enough evidence to prove that Trump criminally inflated the value of his assets. As a result of the asset value inflation, he allegedly got more favorable bank loans, saving up millions of dollars in interest.
She has described the alleged dubious scheme as “the art of the steal,” in reference to “The Art of the Deal,” Trump’s popular business strategy book. James is positive about getting an indictment on the former president, his two eldest sons, and some of his former business partners.
