Trump New York Fraud Trial Begins - Free Websites, Share News And Posts Publicly

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Oct. 2, 2023

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What’s going on today? A lot!

SCOTUS kicked off its new term.
A SCOTUS ruling may help Hunter Biden fight his gun charge.
McDonald’s and Wendy’s defeated a lawsuit over size of their burgers.
Microsoft’s CEO called Google’s mobile search argument ‘bogus’.

Trump reaped over $1 billion from fraud, New York says as civil trial begins

Former U.S. President Donald Trump at a Manhattan courthouse, October 2, 2023. REUTERS/Brendan McDermid

A civil fraud trial that could deal a major blow to Donald Trump’s real estate empire began today, with a New York state lawyer accusing the former president of generating more than $1 billion by lying, and with Trump blasting the case as a “scam.” Here’s what’s at stake in the case.

The trial in a downtown Manhattan courtroom case concerns accusations by New York Attorney General Letitia James that Trump inflated his assets and his own net worth from 2011 to 2021 to obtain favorable bank loans and lower insurance premiums. Read more about the case.

Justice Arthur Engoron of the New York state Supreme Court in Manhattan is presiding over the case. Here’s more about the judge.

Trump faces numerous legal troubles as he seeks the Republican nomination in the 2024 presidential election. Trump denies any wrongdoing. Here’s a recap of his legal woes.

More top news:

Coming up on Tuesday:

Sam Bankman-Fried’s fraud trial begins tomorrow. Here’s a look at what his defense might look like.

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Today at SCOTUS …

Major tests await conservative U.S. Supreme Court in new term

REUTERS/Jim Bourg/File Photo

The U.S. Supreme Court began its new term today with arguments in a criminal sentencing case, setting out on a nine-month legal journey that will test how far its 6-3 conservative majority is willing to steer American law in a rightward direction.

In a major case teed up for tomorrow, the justices will consider the first of at least three disputes that could result in new limits on the authority of regulatory agencies – sometimes called the “administrative state” – a longstanding goal for many U.S. conservatives and business interests.

More from SCOTUS today:

U.S. Supreme Court to decide if SEC disclosure violations are valid basis for shareholder fraud claims

Securities class action defendants and their lawyers are very good at attracting the attention of the U.S. Supreme Court by predicting that terrible things will happen if the justices don’t intervene. The latest case in point: On Friday, the court granted a petition by Macquarie Infrastructure Corp to review a 2022 ruling in which the 2nd Circuit allowed a class of shareholders to proceed with securities fraud claims based on, among other things, the company’s alleged violation of the SEC’s administrative disclosure rules. MIC and its backers said the ruling will force companies to lard up securities filings with unimportant disclosures. Shareholders, meanwhile, said the whole issue is a tempest in a teapot since these claims almost never survive. Alison Frankel has an analysis.

Check out other recent pieces from all our columnists: Alison Frankel, Jenna Greene and Hassan Kanu

In other news …

The Nobel Prize for Medicine goes to Katalin Kariko and Drew Weissman, pioneers of COVID vaccine … U.S. Representative Matt Gaetz will try to unseat House Speaker Kevin McCarthy this week … California Governor Gavin Newsom picks Laphonza Butler to fill Dianne Feinstein’s Senate seat … GM furloughs another 160 workers due to UAW strike … The mass death of Amazon river dolphins is linked to severe drought and heat … And an endangered Sumatran rhino was born in Indonesia.