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Trump defense presents expert witness in civil fraud trial

EditorRachael Rajan
Published 07/12/2023, 20:10
© Reuters.
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NEW YORK - During Donald Trump's civil fraud trial Thursday, the defense called upon accounting professor Eli Bartov as an expert witness at the Manhattan court room today. Bartov aimed to dismantle the New York Attorney General Letitia James' accusations that the former president inflated assets to secure loans. The defense argued that no banks suffered from Trump's financial statements, countering the state's position that proving actual harm is unnecessary when false documents are intentionally submitted.

Eli Bartov, who previously served as a paid expert in a case against Exxon Mobil Corp (NYSE:XOM)., challenged allegations of accounting fraud by pointing to Deutsche Bank's actions. Despite lowering Trump’s net worth estimate from $4 billion to $2 billion, the bank still granted loans after their own analysis, suggesting they were not misled. Judge Arthur Engoron, while having reservations about the so-called "worthless" disclaimer defense, permitted Bartov to testify on credit analysis and valuation. Bartov asserted that claims of accounting malpractice were baseless and highlighted disclaimers on financial documents to argue that there was no intent to deceive.

The trial, which has spanned over two months with substantial witness testimony, including from Trump himself, is drawing to a close. Throughout this period, Trump has been dealing with numerous legal challenges even as he campaigns for re-election.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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