AP Photo/Eduardo Munoz Alvarez
Donald Trump erupted on the witness stand during his under-oath testimony in his civil fraud trial Monday, calling the judge a "fraud" for not agreeing that Mar-a-Lago was worth more than $1 billion.
With the future of his business empire at stake in the trial, it was this weeks-old, imaginary slight – his false belief that the trial judge had "valued" his Palm Beach home and club at only $18 million – that prompted Trump's loudest complaint while testifying.
"He ruled against me without knowing anything about me," Trump ranted Monday afternoon, around halfway through an expected full day of testimony. "He ruled against me and said I was a fraud without knowing anything about me."
Trump appeared to be referring to an earlier ruling by New York Supreme Court Judge Arthur Engoron, who's presiding over the civil trial, now in its sixth week, in a downtown Manhattan courtroom.
Engoron had noted in a summary judgment ruling that officials in Palm Beach, Florida, where Mar-a-Lago is based, appraised the property's market value as between $18 million and $27.6 million for tax payments. Trump and his allies have seized on that part of the opinion, falsely claiming that Engoron had personally valued Mar-a-Lago at $18 million.
The stakes for Trump are high. The New York Attorney General's office has accused Trump, his two eldest sons, and other Trump Organization executives of falsifying property valuations for favorable loan terms and tax payments. They have sought to disgorge the company of more than $250 million in what they say are unfairly obtained profits and to ban Trump and his adult sons from running businesses in New York, among other penalties.
On the witness stand Monday, Trump fixated on Mar-a-Lago. He insisted his social club, which is also his main residence, was worth between $1 billion and $1.5 billion.
"The fraud is on the court when you rule that Mar-a-Lago is worth $18 million," Trump said. "I could give you a quarter of a tennis court that's worth more than that."
Trump's grievance-filled speech about the market value of Mar-a-Lago was in response to a yes-or-no question about whether his statement of financial condition, a document given to banks while asking for loans, was correct.
Kevin Wallace, the lawyer for the attorney general's office questioning him, asked again.
"Asked and answered," Trump's lawyer Alina Habba objected.
"No! It hasn't been answered!" Engoron shouted in response.
"Your honor, I'm not screaming," Habba responded.
Trump smiled at his lawyers during the exchange.
The former president — and 2024 Republican frontrunner — became more agitated talking about Mar-a-Lago's value than at any other point in his testimony Monday. He crossed and uncrossed his arms, and used the topic as a springboard to attack New York Attorney General Letitia James, who's bringing the case.
In court, Trump claimed his company's financial statements were "very conservative," and that Mar-a-Lago was worth much more than what the judge and James claimed.
The statements, he said, don't include "brand value" that makes his properties worth more.
"This is the opposite of fraud. The fraud is her," Trump said, referring to New York Attorney General Letitia James. "She said it's worth 25 million. He said it's worth 18 million. It's worth a billion dollars — or more."
On the first day of the trial, which Trump attended, Engoron had chastised Trump and members of the media who misrepresented his earlier ruling.
"I specifically said in the summary judgment decision, I'm not valuating properties," Engoron said. "Please, press, stop saying I'm valuing it at $18 million. There was a tax assessment in that range."
On Monday, Trump said the decision was "fraudulent" and that "the fraud is on behalf of the court." He also suggested Engoron may have issued a more favorable ruling had he gotten to know more about him.
"He called me a fraud and he doesn't know anything about me," Trump said.
He also took the opportunity to attack President Joe Biden.
"How do you rule that I'm a fraud, when as the president of the United States I did a great job," Trump said. "And you have to look at the current president, what he's doing."
"Done?" Wallace asked Trump.
"Done," Trump responded.
A few minutes later, Trump returned to attacking James's lawsuit. He bemoaned her allegation that he inflated the value of one of his towers, 40 Wall Street, located a short walk from the courthouse.
"She doesn't even know what 40 Wall Street is," he said.
The building is located around the corner from the New York Attorney General's office.
