Former President Donald Trump is set to be deposed in the coming weeks in New York Attorney General Letitia James’ fraud lawsuit against the Trump Organization. The lawsuit is part of an ongoing investigation into Trump’s business dealings, and the deposition is expected to be a closely-watched event.
Background of the Story
Letitia James, the Attorney General of New York, launched an investigation into the Trump Organization in 2019, shortly after Michael Cohen, Trump’s former attorney, testified before Congress that Trump had inflated the value of his assets to obtain loans and insurance coverage while also understating the values of his properties to reduce his tax liabilities. In August 2020, James filed a lawsuit against the Trump Organization, alleging that the company had committed fraud by inflating the values of its properties.
What’s a Deposition?
A deposition is a legal process in which a witness is questioned under oath by attorneys from both sides of a case. The testimony given during a deposition is recorded and can be used as evidence in court. In the James vs. Trump lawsuit, Trump will be questioned about his involvement in the alleged financial improprieties.
Key Players in the Deposition
The deposition will involve several key players, including Donald Trump, Letitia James, and other individuals involved in the lawsuit. It is expected to be a highly contentious and closely-watched event, given the high stakes involved.
Potential Outcomes of the Deposition
The deposition could have significant implications for both Trump and James. If Trump’s testimony is found to be inconsistent with other evidence or testimony, it could undermine his credibility and weaken his defence in the lawsuit. On the other hand, if James is unable to prove her case or fails to obtain a favourable judgment, it could damage her reputation and her office’s ability to investigate and prosecute financial crimes.
Recent Statistics of Trump and James Story
According to recent reports, the Trump Organization’s revenue dropped by 38% in 2020 compared to the previous year, with the company reporting losses of $1.1 billion. The drop in revenue has been attributed to the COVID-19 pandemic and the negative publicity surrounding the company and its former CEO. Additionally, Letitia James’ office recently issued subpoenas to several banks as part of its investigation into the Trump Organization, seeking information about the company’s finances and loans.
The news that Trump will be deposed in Letitia James’ fraud lawsuit is the latest development in a long-running legal battle between the former president and his critics. The deposition is likely to be a high-stakes and contentious event that could have significant implications for both Trump and James. As the investigation and lawsuit continue to unfold, it remains to be seen what the ultimate outcome will be. However, the recent drop in revenue and the subpoenas issued by James’ office suggest that the investigation is far from over.