The judge presiding over the trial, the New York supreme court justice Arthur Engoron, already found Trump guilty of financial fraud in a pre-trial judgment. The trial will be dedicated to determining whether, and how much, Trump will have to pay for the verdict.
James has argued that the Trump Organization should owe at least $250m for profiting off loans that were awarded based on false and misleading financial statements. Trump's lawyers have appealed the judgment, though it is unlikely to affect the trial's proceedings.
Here's what we know about Trump's upcoming fraud trial.
What is Trump on trial for?
James is suing Trump for creating false and misleading financial statements that inflated the value of various assets. Prosecutors found fraudulent reporting for 23 Trump Organization properties and assets from 2011 to 2021.
For example, Trump said his Wall Street office building was valued at $530m. Independent professional appraisers calculated a valuation that was less than half that. Twelve rent-stabilised units in Trump's Park Avenue condo were in 2010 estimated to be valued at around $750,000. In 2020, the Trump Organization said they were worth $50m.
This story is from the October 06, 2023 edition of The Guardian Weekly.
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This story is from the October 06, 2023 edition of The Guardian Weekly.
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