Donald Trump’s civil fraud trial in Manhattan is all about whether he and his adult children lied about the value of their assets to get loans and pay less taxes. In other words, they’re accused of committing financial fraud, which could potentially lead to some serious consequences for Trump’s business empire.
So why is this trial so important? For one thing, if Trump and his family are found guilty, it could mean the end of their business empire. They may also face fines, penalties, and even jail time. Additionally, this trial could have a significant impact on Trump’s political future, as it could further damage his reputation and credibility.
The trial revolves around two key accusations. First, it’s alleged that Trump and his team inflated the value of assets such as buildings and golf courses to secure favorable loan terms from banks. This means they may have misled lenders into thinking they were less risky than they actually were. Secondly, they’re accused of deflating the value of certain assets to reduce their tax liability. In other words, they may have paid less tax than they should have by claiming their properties were worth less than they really were.
This isn’t the first time Trump has faced legal trouble related to these practices. He was previously sued by New York State Attorney General Barbara Underwood over similar allegations, and he settled for $25 million without admitting guilt.
Overall, this civil-fraud trial could be a game changer for Trump’s business empire and his political career. If he’s found guilty, it could spell disaster for both. So let’s keep a close eye on this one and see how it unfolds.