Expert testimony valuing Mar-a-Lago at $750 million allowed in Trump civil fraud trial
Judge Denies Motions to Block Expert Testimony in Trump Fraud Trial
New York Judge Arthur Engoron has denied two motions by the Democratic New York attorney general to block testimony from an expert who valued Donald Trump’s Mar-a-Lago property at a minimum of $750 million.
Engoron ruled before the trial began that Trump had inflated the value of his properties, including his Palm Beach County estate, by over 2,300%. In contrast, a local tax appraiser estimated its value at $27.6 million.
On Friday, Engoron rejected the argument that two experts Trump sought to bring forth would offer impermissible legal opinions. One of these experts is Lawrence Moens, a top real estate broker in Palm Beach.
“He is extremely different than a doctor [explaining] how he might conduct a surgery. He is providing evaluation advice,” argued state attorney Kevin Wallace.
Moens, in a pretrial deposition, stated that famous billionaires like Elon Musk and Bill Gates could potentially be willing to pay between $750 million and $1 billion for Trump’s property.
New York Attorney General Letitia James alleges that Trump engaged in efforts to deceive banks into giving him better interest rates by inflating property values.
The trial, which may last into early January, aims to determine whether the valuations of Mar-a-Lago and other Trump properties constitute fraud under New York criminal law. James is seeking $250 million in civil damages.
Moens is expected to testify on Tuesday and will likely be questioned on his impartiality. Another witness, John Shubin, will testify about the deed of Mar-a-Lago and its impact on the property’s value.
How might the outcome of this trial affect Trump’s credibility and reputation, in addition to potential legal ramifications
Judge Denies Motions to Block Expert Testimony in Trump Fraud Trial
On Friday, New York Judge Arthur Engoron made a pivotal decision in the ongoing fraud trial involving former President Donald Trump. The judge denied two motions put forth by the Democratic New York attorney general, Letitia James, which sought to block the testimony of an expert valuing Trump’s Mar-a-Lago property. This development sets the stage for a potentially groundbreaking legal battle surrounding the inflated valuations of Trump’s properties.
Judge Engoron had previously ruled that Trump had significantly exaggerated the worth of his real estate assets, including his Palm Beach County estate, at an astounding 2,300% above their actual value. In stark contrast, a local tax appraiser determined the value of Mar-a-Lago to be a mere $27.6 million. These substantial discrepancies form the foundation of the case against Trump, as it alleges he deliberately manipulated property values to secure more favorable interest rates from banks.
The judge’s recent ruling centered on the admissibility of expert testimony from professionals involved in the real estate industry. Despite the arguments put forth by Attorney Kevin Wallace on behalf of the state, Judge Engoron decided that the testimony of the two experts Trump intended to present was permissible. One of these experts is Lawrence Moens, a highly regarded real estate broker based in Palm Beach.
Wallace argued that Moens’ testimony should be considered an impermissible legal opinion, akin to a doctor discussing surgical procedures. However, the judge disagreed, recognizing that Moens’ role is to provide expert evaluation advice and not to offer legal opinions. In a pretrial deposition, Moens stated that renowned billionaires such as Elon Musk and Bill Gates could potentially be willing to pay anywhere between $750 million and $1 billion for Trump’s property.
The ongoing trial aims to establish whether the inflated valuations of Mar-a-Lago and other Trump properties constitute fraud under New York criminal law. Attorney General Letitia James is seeking $250 million in civil damages as part of the case. With the trial expected to continue well into January, the testimonies of experts like Moens and other witnesses, including John Shubin, who will discuss the impact of the property’s deed on its value, will be critical in determining the outcome of the case.
Of particular interest will be Moens’ testimony, scheduled for Tuesday, where he will likely face scrutiny regarding his impartiality in valuing Trump’s property. The verdict in this trial could have far-reaching implications for Trump and his business dealings, not only in terms of potential legal ramifications but also in terms of his overall credibility and reputation.
As the trial progresses, the world will be watching closely to see how this landmark case against Trump unfolds. The decision by Judge Engoron to allow the expert testimony adds an intriguing dimension to the proceedings and raises questions about the extent of Trump’s involvement in the alleged fraudulent activities. Only time will tell how this high-stakes legal battle will conclude and what consequences it may have for the former President.
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