Trump’s Civil-Fraud Trial, Explained: What’s at Stake? | WSJ

Donald Trump’s civil-fraud trial is expected to come to a close in a Manhattan court this week. The former president’s reputation as a New Yorker, businessman and socialite is at the center of the trial, where he and his adult children face allegations that they falsified the value of their assets for millions in ill-gotten gains.

WSJ looks at what’s at stake for the GOP presidential candidate, his New York empire and the business-titan persona he’s built over the course of decades.

Chapters:
0:00 Trump’s civil-fraud trial
0:49 Trump’s NYC roots
3:09 Summary judgment and pending penalties
4:39 Consequences for Trump Organization
5:41 What’s next?

News Explainers
Some days the high-speed news cycle can bring more questions than answers. WSJ’s news explainers break down the day's biggest stories into bite-size pieces to help you make sense of the news.

#Trump #Politics #WSJ

[JayTee]

He undervalued his assets when it came to filing taxes to defraud the IRS and overvalued them when applying for loans to defraud the banks.

[fnorgen]

Sure is nice to see so much completely legitimate, and not not the least bit sketchy financial advice in this comment section. I don't see how throwing all my savings into a bizarre penny stock could possibly backfire if it is recommended by so many living, breathing, independent humans.

[shawngerard]

3:20 I know nothing about this but when someone says "everything was perfect, there was no crime" I'm immediately suspicious 😂

[worldlife]

This whole case is nonsense. Citizens have a right to give their opinion on the value of their assets. I don't see a victim because banks can choose to accept or reject applications. Our legal system is a mess to due weaponization of the courts.

[therealunicornselene]

If he'd paid the property taxes based on the overvalued amounts nobody would have minded all that much 😅

[LuisSanchez-kmjn]

If you harrass the judge and prosecutor your problems may double.

[cornelllka]

It very obvious what’s going on here. There was no law broken. They literally said there is no law dictating what constitutes a gross misrepresentation of property value.

[anilu]

I don’t understand why the city would sue if the properties paid higher taxes on the properties and the banks did not bring suit themselves.

[alfavhunter]

Its amazing how even the bank who gave the loan says there was no fraud. Because they did their own asset assessment and chose to still approve the loan.

This fraud case is a political hit job.

[QuietStormX]

the U.S. Courts are getting wise to these delays. They do talk to other courts and read the News. Watch TV also..

[oshanelaird]

This could be brought against any Business

[briandavis]

This case has no chance of making it past appeal courts.

[louminati]

My goodness could you image the amount of property tax you would pay if the Assessors Valuation and Appraised Market Value were the same?

[rb]

Nowhere you mention that the same assets were down estimated for tax reasons. If that is not fraud, then what is it?

[taylorbranson]

He definitely played the system for sure but that doesn’t change the fact that politicians are playing the system as well, to make it hard on him. This will only continue to make people hate the government and politicians.

[FriedrichOettingen]

Trump saying „everybody profited“ doesn’t necessarily mean that it was legal.

[rudyk]

The news is just as balanced as the comments .

[edwardrumick]

This is a bunch of silly nonsense. They are saying the tax appraised value is the real value and that the banks appraisal of the property is fraud. You don't decide the appraised value of your own property when you take a loan.

[worldlife]

This whole case must be handled by a jury.

[worldlife]

He is a victim of political persecution. Case after case in the legal system.